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8 Jul 2013
EUR/USD, buyers/sellers watching 1.2750 - 2ndSkies
FXstreet.com (Barcelona) - The recent deterioration in the EUR/USD exchange rate has taken the pair to approach critical support level at 1.2750, late March/early April lows, also lowest of the year.
Watch 1.2750 in EUR/USD
According to Chris Capre, Founder at 2ndSkies, "EUR/USD is in the 2nd leg of this sell-off, so buyers will have to watch 1.2750 for price action signals, while bears will need to wait for a pullback to avoid selling into 1.2790/50 support levels."
EUR/USD Intraday levels
Intraday price action levels to watch for sell signals would be 1.2881 and 1.2921 which can be easily seen from the 4hr and 1hr charts. A break of the yearly lows puts 1.2657 into sight for the bears.
Watch 1.2750 in EUR/USD
According to Chris Capre, Founder at 2ndSkies, "EUR/USD is in the 2nd leg of this sell-off, so buyers will have to watch 1.2750 for price action signals, while bears will need to wait for a pullback to avoid selling into 1.2790/50 support levels."
EUR/USD Intraday levels
Intraday price action levels to watch for sell signals would be 1.2881 and 1.2921 which can be easily seen from the 4hr and 1hr charts. A break of the yearly lows puts 1.2657 into sight for the bears.