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30 Jun 2014
EUR/USD key support now 1.3510/20
FXStreet (Guatemala) - Analysts at TD Securities explained that with the week starting off with EUR/USD pushing through the top of the June consolidation on the weekly chart at 1.3647, it is a bit harder to argue that the EUR is still consolidating.
Key Quotes:
“Price action may well be affected by thin conditions but and the risk of more volatility through the remainder of the holiday-shortened week suggests that it would be wrong to dismiss the risk of a return to the 1.3750/1.38 area if the EUR can maintain its current gains through the close of the week”.
“We spot key medium-term support in the 1.3510/20 area now. Weakness below here should see EUR losses pick up more materially”.
Key Quotes:
“Price action may well be affected by thin conditions but and the risk of more volatility through the remainder of the holiday-shortened week suggests that it would be wrong to dismiss the risk of a return to the 1.3750/1.38 area if the EUR can maintain its current gains through the close of the week”.
“We spot key medium-term support in the 1.3510/20 area now. Weakness below here should see EUR losses pick up more materially”.