Commodity Prices

Gold •417 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,363.90	+0.80	+0.06%
WTI Crude •10 mins	63.79	+0.13	+0.20%
Gasoline •18 mins	2.154	-0.004	-0.19%
Ethanol •417 days	2.161	+0.000	+0.00%
Silver •417 days	30.82	+1.16	+3.92%

Silver • 417 days	30.82	+1.16	+3.92%
Copper • 417 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	67.84	+0.11	+0.16%
Natural Gas • 10 mins	2.658	-0.040	-1.48%
Heating Oil • 45 mins	2.313	+0.004	+0.19%

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EUR/USD: Meets Strong Resistance Close to 1.330

By - Aug 01, 2013, 5:23 AM CDT

EUR/USD has met strong resistance after testing above the 1.3300 level. Yesterday's push higher tested above falling daily trend-line resistance, potentially leaving a false break higher. Supports are at 1.3164 (23/07/2013 low) and 1.3067 (18/07/2013 low). However, a break over yesterday's high at 1.3345 will open up a return to 1.3417 (19/06/2013 high).

Short-term oscillators are approaching overbought conditions. Coupled with the significant resistance at 1.3417, the short-term upside potential is likely limited.

In the longer-term, EUR/USD does not exhibit a clear trend. As we eventually expect to see prices moving below the key support at 1.2662 (13/11/2012 low), we continue to favour a medium-term bearish bias.

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