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17 Jun 2013
EUR/USD falls into negative territory
FXstreet.com (New York) - The EUR/USD foreign exchange rate fell off earlier highs during European trading, due in part to an emerging risk aversion permeating out of China.
EUR/USD holds negative bias up to 3 months out
According Global FX Strategist Sean Callow at Westpac, “The EUR is looking overdone on the topside and the EZ-US relative growth outlook still ultimately favors a trend shift in yield spreads back in the USD’s favor. We stick with a negative EUR/USD bias on a 1 and 3-month horizon.”
After waning over 20 pips off its intraday high (1.3360), the EUR/USD is now residing in negative territory at 1.3338, incurring a tepid loss of -0.08% Monday. Ultimately, the technical pair will look to find some levels of stability at 1.3296, then 1.3258, and finally 1.3221, according to the Mataf.net analyst team.
EUR/USD holds negative bias up to 3 months out
According Global FX Strategist Sean Callow at Westpac, “The EUR is looking overdone on the topside and the EZ-US relative growth outlook still ultimately favors a trend shift in yield spreads back in the USD’s favor. We stick with a negative EUR/USD bias on a 1 and 3-month horizon.”
After waning over 20 pips off its intraday high (1.3360), the EUR/USD is now residing in negative territory at 1.3338, incurring a tepid loss of -0.08% Monday. Ultimately, the technical pair will look to find some levels of stability at 1.3296, then 1.3258, and finally 1.3221, according to the Mataf.net analyst team.