Forex: EUR/USD 0.4% down heading to the weekend

on Jun 28, 2013
Listen Friday June 28th_: At this late stage in the week, the pair is off the week’s opening price by 0.40 percent, having traded in a range of 166 pips. As of now, the price is at 1.3070, on the rebound from the week low of 1.2983 established on Wednesday.

Currently in European trading, the EUR/USD appears to be heading north in the short term towards the resistance level of 1.3080, and on the four-hour chart will at 1.3083 pass the MA200. These two levels may become an obstacle for further ascent today and put an end to the MACD convergence’s bullish influence.
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