FXstreet.com (San Francisco) - EUR/USD holds a slight bid tone in Asia as it trades a very quiet and limited range between 1.3103 and 1.3139, last quoted at 1.3130. Next resistance lies at the 100-week EMA (1.3240), then the May high at 1.3282. Above that, there is resistance at 1.3487 (50% Fibo, 1.4940/1.2041 decline).
“There's a long way to go from here to 1.50 and I don't think that the EUR/USD has what it takes to get there,” comments Kathy Lien, Managing Director at BK Asset Management. “In order for EUR/USD to rise to 1.50 like it did back in 2011, we need the Federal Reserve and the ECB to be running significantly divergent monetary policies.”
For now through, price gravitates just above the 1.3100 handle.
“There's a long way to go from here to 1.50 and I don't think that the EUR/USD has what it takes to get there,” comments Kathy Lien, Managing Director at BK Asset Management. “In order for EUR/USD to rise to 1.50 like it did back in 2011, we need the Federal Reserve and the ECB to be running significantly divergent monetary policies.”
For now through, price gravitates just above the 1.3100 handle.
