FX.co ★ EUR/USD rebounds - daily strategy for July 03, 2013

The euro recovers after temporarily breaking the first weekly support 1.2945, reaching the minimum of this month in 1.2922, strong support from medium term. The current bullish momentum could reach 1.3048 area, where the weekly pivot is. Therefore, if the price of the pair backs to support levels, it will be a good opportunity to buy, with targets at 1.30 and 1.3048. On the other hand, after noon today we will feel the festive occasion of Independence Day that will take place on Thursday. Traditionally, the trading volume is lower. This pair has already fallen more by than 450 points from the levels of 1.34, which is the most likely recovery in the coming days.

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