EUR/USD

Weekly view- June 30- July 04, 2014

The pair showed a good upward momentum last week. It closed at the highest point of the week. This week the same momentum is expected, if it manages to sustain above 1.3650 for 1.3670-1.3677-1.37-1.3735, and 1.3750 levels. This week's key support level existed between 1.36 -1.3574 levels. In a break is below this level, we can expect some weakness up to 1.35 levels. If the pair managed to sustain above 1.3677, we can see 1.3735 and 1.3750 in 1-2 trading session. A weekly close above 1.37 levels the bulls will tighten their grip for another 100 pips odd.

Key support - 1.36-1.3574

Key resistance- 1.3677

Key support levels to watch (near- short term) - 1.35, 1.3477, 1.3420, and 1.3375

Key resistance levels to watch (near- short term) - 1.3677, 1.3735, 1.3750, 1.3775 and 1.40 levels

Intraday - cmp 1.3646

We expect another strong upward movement only above 1.3651. The pair looks weak only below 1.36 levels. If the pair breaches the 1.3651 level, it can fly up to 1.3677 and 1.37 (50 days Sma). Fresh buy will add to this pair above 1.37 for 1.3750, 1.3775 and 1.38-1.3825 levels. The heavy supply zone is placed between 1.3677-1.37 levels.

Weak below 1.36 for 1.3580, 1.3575 and 1.3565