Tuesday, 16 July 2013

EUR/USD back to mid-range after Fitch's DownGrade

  • Bounce off bottom of range stalls ahead of 1.3080-00 offers
  • Fitch's downgrade of EFSF to AA+ has pair back to mid-point of s-t range
  • Mkt still somewhat directionless for now, hemmed between 100 & 200 DMAs
  • Dips sub-1.30 bought, result in long lower wicks on candles, bulls assert a bit
  • Stops above 1.3100 may have more impact than stops sub-1.2980/85       



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