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26 Apr 2013
Forex: EUR/USD back to the 1.3000 zone
FXstreet.com (Córdoba) - The euro continues to consolidate around the 1.3000 mark versus the greenback, as the US GDP's inspired strength was only temporally and found resistance at the 1.3035 area.
The EUR/USD failed to sustain gains and slid back to the 1.3000 area, and it is currently trading around 1.3010, virtually unchanged since opening.
"Stocks are higher, and dollar lower against most of its rivals, which suggests the downside for EUR/USD will remain limited by 1.2970/1.3000 price zone", says Valeria Bednarik, chief analyst at FXstreet.com. "However, only steady gains above 1.3040 should favor a short term bullish movement, with 1.3080/1.3100 being a probable top for today".
The EUR/USD failed to sustain gains and slid back to the 1.3000 area, and it is currently trading around 1.3010, virtually unchanged since opening.
"Stocks are higher, and dollar lower against most of its rivals, which suggests the downside for EUR/USD will remain limited by 1.2970/1.3000 price zone", says Valeria Bednarik, chief analyst at FXstreet.com. "However, only steady gains above 1.3040 should favor a short term bullish movement, with 1.3080/1.3100 being a probable top for today".