EUR/USD back to the 1.3280 area (Edinburgh) -The EUR/USD now retreated from today’s peaks around 1.3300 the figure, after another failed attempt to follow through the critical barrier.

EUR/USD shorts retreating

According to last week’s CFTC COT report, euro shorts continues to scale back. Strategist Jane Foley at Rabobank commented “EUR shorts continued to decline as EUR remains resilient in the face of a dovish ECB and rising political risks within the Eurozone… USD longs were lower than reported in the previous set of data but only a 5.2% drop was recorded. The FOMC on Wednesday will be the main focus for USD”.

EUR/USD critical levels

At the moment the pair is down 0.02% at 1.3283 with the next support at 1.3208 (high Jul.11) ahead of 1.3200 (psychological level) and hen 1.3198 (MA10d). On the upside, a break above 1.3297 (high Jul.26) would expose 1.3302 (high Jun.20) and finally 1.3325 (low Jun.18).

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.