Forex: EUR/USD steady below 1.3000

on Jul 5, 2013
Listen Friday July 05th_: Yesterday the EUR/USD posted a fall of 1.30 percent, closing below 1.3000. Currently the pair is trading even lower, at 1.2880, which puts it at a 31-day low. The recent downward movement from 1.3415 is plainly continuing and may yet extend to short-term targets at 1.2836, 1.2820 and 1.2795.

Conversely, a rebound could bring the price to test 1.2920, which if breached could see the pair rally towards the 89-hour simple moving average, residing currently at 1.2982.
Resistance levels today: 1.2905, 1.2935 and 1.2985.
Support levels: 1.2885, 1.2850 and 1.2820.
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