29 Aug 2013
EUR/USD extends the slide to 1.3240
FXstreet.com (Edinburgh) -The negative sentiment is swelling around the single currency on Thursday, prompting buyers to stay at bay and pushing the EUR/USD to another test of weekly lows near 1.3240.
EUR/USD focus on US docket
Against the backdrop of increasing risk aversion, the pair will face today’s US docket, where the weekly report on the labour market and the Q2 GDP Annualized will be in the limelight. Prior surveys expect the economic activity to have expanded 2.2% QoQ and Initial Claims to drop to 329K in the week ended on August 23. Fed’s member Bullard will also give a speech in the European afternoon.
EUR/USD key levels
At the moment the pair is down 0.70% at 1.3246 and a breach of 1.3206 (low Aug.5) would aim for 1.3188 (low Aug.2) and finally 1.3164 (low Jul.23). On the upside, the initial hurdle lines up at 1.3343 (high Aug.29) followed by 1.3358 (MA10d) and then 1.3399 (high Aug.28).
EUR/USD focus on US docket
Against the backdrop of increasing risk aversion, the pair will face today’s US docket, where the weekly report on the labour market and the Q2 GDP Annualized will be in the limelight. Prior surveys expect the economic activity to have expanded 2.2% QoQ and Initial Claims to drop to 329K in the week ended on August 23. Fed’s member Bullard will also give a speech in the European afternoon.
EUR/USD key levels
At the moment the pair is down 0.70% at 1.3246 and a breach of 1.3206 (low Aug.5) would aim for 1.3188 (low Aug.2) and finally 1.3164 (low Jul.23). On the upside, the initial hurdle lines up at 1.3343 (high Aug.29) followed by 1.3358 (MA10d) and then 1.3399 (high Aug.28).