Commodity Prices

Gold •439 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,413.10	-4.10	-0.29%
WTI Crude •11 mins	63.47	+0.17	+0.27%
Gasoline •11 mins	2.016	+0.002	+0.11%
Ethanol •439 days	2.161	+0.000	+0.00%
Silver •439 days	30.82	+1.16	+3.92%

Silver • 439 days	30.82	+1.16	+3.92%
Copper • 439 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	67.56	+0.12	+0.18%
Natural Gas • 12 mins	3.019	-0.024	-0.79%
Heating Oil • 11 mins	2.336	+0.005	+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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