30 Aug 2013
EUR/USD range-bound around 1.3240
FXstreet.com (Edinburgh) -The EUR/USD is now sidelining around 1.3240 on Friday, as the sedative effects of the longer weekend across the ponds seem to be taking over.
EUR/USD focus on US data
The generalized upbeat that from the 17-nation bloc this morning did almost nothing to curb the bearishness surrounding the euro, as the risk aversion continues to prevail as well as inflows to the safe havens. Ahead in the day, traders will keep an eye on the US docket, with Personal Income/Spending, PCE and the Reuters/Michigan index due. Derek Halpenny, European Head of Global Markets Research, commented, “From here, like with USD/JPY, EUR/USD is likely to be driven by key economic data readings in the US next week that will determine expectations on QE tapering”.
EUR/USD key levels
At the moment the pair is up 0.03% at 1.3245 with the initial resistance at 1.3298 (low Aug.22) followed by 1.3322 (low Aug.27) and then 1.3341 (MA10d). On the downside, a breach of 1.3219 (low Aug.29) would bring 1.3206 (low Aug.5) and finally 1.3188 (low Aug.2).
EUR/USD focus on US data
The generalized upbeat that from the 17-nation bloc this morning did almost nothing to curb the bearishness surrounding the euro, as the risk aversion continues to prevail as well as inflows to the safe havens. Ahead in the day, traders will keep an eye on the US docket, with Personal Income/Spending, PCE and the Reuters/Michigan index due. Derek Halpenny, European Head of Global Markets Research, commented, “From here, like with USD/JPY, EUR/USD is likely to be driven by key economic data readings in the US next week that will determine expectations on QE tapering”.
EUR/USD key levels
At the moment the pair is up 0.03% at 1.3245 with the initial resistance at 1.3298 (low Aug.22) followed by 1.3322 (low Aug.27) and then 1.3341 (MA10d). On the downside, a breach of 1.3219 (low Aug.29) would bring 1.3206 (low Aug.5) and finally 1.3188 (low Aug.2).