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11 Sep 2013
EUR/USD rallies to 1.3300
FXstreet.com (Córdoba) - The EUR/USD finally managed to break above the 1.3280 resistance area and rallied toward a fresh 2-week high after data showed US wholesale inventories and sales grew less than expected in July.
EUR/USD lifted by wholesale data
EUR/USD rose as high as 1.3300 as the greenback weakened across the board as wholesale data should have a slight negative impact on Q3 GDP expectations. EUR/USD peaked at 1.3300 but lacked momentum to break the psychological level and pulled back slightly.
EUR/USD technical levels
At time of writing, EUR/USD is trading at the 1.3290 zone, recording a 0.2% gain on the day. If EUR/USD breaks decisively above 1.3300, next resistances could be found at 1.3345 (Aug 29 high) and 1.3360 (200-week SMA). On the other hand, supports are seen at 1.3243 (intraday low) and 1.3230 (Sep 10 low) ahead of 1.3200 (psychological level).
EUR/USD lifted by wholesale data
EUR/USD rose as high as 1.3300 as the greenback weakened across the board as wholesale data should have a slight negative impact on Q3 GDP expectations. EUR/USD peaked at 1.3300 but lacked momentum to break the psychological level and pulled back slightly.
EUR/USD technical levels
At time of writing, EUR/USD is trading at the 1.3290 zone, recording a 0.2% gain on the day. If EUR/USD breaks decisively above 1.3300, next resistances could be found at 1.3345 (Aug 29 high) and 1.3360 (200-week SMA). On the other hand, supports are seen at 1.3243 (intraday low) and 1.3230 (Sep 10 low) ahead of 1.3200 (psychological level).