Forex: EUR/USD back to mid-range

FXstreet.com (Córdoba) - After another failed attempt to break above 1.3100, the euro turned lower and retraced intraday gains as news that S&P cut UK outlook hurt on the cable that dragged EUR/USD lower.

However, EUR/USD found support at the 1.3060 zone and managed to hold well within its intraday range. At time of writing, EUR/USD is trading at the 1.3075 area, where it is virtually unchanged since opening. Despite intraday volatility, the pair has gravitated around teh 1.3070/75 zone most of the day.

In terms of technical levels, Valeria Bednarik, chief analyst at FXstreet.com locates immediate supports at 1.3040, 1.3000 and 1.2970, while she sees resistances at 1.3100, 1.3135 and 1.3170.

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