Forex: EUR/USD may target 1.33 upon break of 1.3265 - V.Bednarik

22/03/2012 23:01 AST  FXstreet

EUR/USD traded in range between 1.3171 and 1.3251 on Tuesday, printing an inside bar on the daily timeframe chart. Technically speaking, the bullish tone is still present, yet losing strength, says Valeria Bednarik, Chief Analyst at

"The pair has tested today the 200 EMA in the 4 hours chart around 1.3170 and immediate support," comments the analyst. "At this point, the pair is in the middle of nowhere, and I would like to see a break above 1.3265, yesterdays high, to confirm a continuation rally towards 1.3300 area. I would expect sellers to start pressuring there, keeping the upside limited." In early Asia, EUR/USD is gently bid, up just a few pips to 1.3227 from 1.3223 at the NY close.

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