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14 Aug 2013
EUR/USD doubtful around 1.3260
FXstreet.com (Edinburgh) -The EUR/USD is extending its consolidation pattern between 1.3250 and 1.3260 as we head towards the last part of the NA session on Wednesday.
EUR/USD focus on US docket
Empty calendar in the euro area on Thursday will shift traders’ attention to the US economy, where Consumer Prices and the weekly report on the labour market will be in the limelight, followed by regional gauges of the manufacturing sector – NY Empire State and Philly Fed indices. According to Camilla Sutton, Strategist at Scotiabank, the short-term technical studies are mixed, adding, “the MACD has generated a sell signal and candlesticks suggest building downward momentum with the bears firmly in control; other studies have been slower to turn, with the 9-day still trading above the 21-day MA and the RSI still above 50. Support lies at the August low of 1.3190, with resistance at yesterday’s open of 1.3300”.
EUR/USD key levels
At the moment the pair is down 0.04% at 1.3259 and a breach of 1.3233 (low Aug.5) would aim for 1.3200 (psychological level) and finally 1.3188 (low Aug.2). On the upside, the initial barrier lines up at 1.3295 (MA10d) followed by 1.3317 (high Aug.13) and then 1.3345 (high Aug.12).
EUR/USD focus on US docket
Empty calendar in the euro area on Thursday will shift traders’ attention to the US economy, where Consumer Prices and the weekly report on the labour market will be in the limelight, followed by regional gauges of the manufacturing sector – NY Empire State and Philly Fed indices. According to Camilla Sutton, Strategist at Scotiabank, the short-term technical studies are mixed, adding, “the MACD has generated a sell signal and candlesticks suggest building downward momentum with the bears firmly in control; other studies have been slower to turn, with the 9-day still trading above the 21-day MA and the RSI still above 50. Support lies at the August low of 1.3190, with resistance at yesterday’s open of 1.3300”.
EUR/USD key levels
At the moment the pair is down 0.04% at 1.3259 and a breach of 1.3233 (low Aug.5) would aim for 1.3200 (psychological level) and finally 1.3188 (low Aug.2). On the upside, the initial barrier lines up at 1.3295 (MA10d) followed by 1.3317 (high Aug.13) and then 1.3345 (high Aug.12).