28 August 2013, 17:59  EUR/USD slumps

The EUR/USD took an ugly turnaround and slumped right before the release of US pending home sales data as wild moves continue in the wake of escalating tensions in Syria. EUR/USD dropped more than 60 pips in a matter of minutes and scored a fresh weekly low of 1.3304 in recent dealings. However, EUR bears seems to be waiting the data to pull the trigger (or not) below the 1.3300 mark. At time of writing, EUR/USD is trading around the 1.3310 zone, 0.6% below its opening price, with immediate supports at 1.3300 (psychological level) and 1.3280 (Aug 14 high).

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