25 Sep 2013
EUR/USD threatening Tuesday low of 1.3463 ahead of Europe open
FXstreet.com (Barcelona) - The EUR/USD remains under significant selling pressure overall despite the current bounce attempt as we head towards the European trading session.
European and US data to drive the action Wednesday
Early in the Wednesday session, EUR/USD traders will will be watching the German Consumer Confidence and Import Price data to see if it generates any strong movement in the cross. Later Wednesday, they will be reacting to US Durable goods and new home sales data.
Technical outlook for EUR/USD
Technicians say that Tuesday’s breakdown below 1.3476 in EUR/USD should open the door to more of a downside correction near-term – likely down to 1.3447 and/or 1.3419. Very short-term resistance comes in at 1.3480 and is followed by the 9/22 peak at 1.3546.
European and US data to drive the action Wednesday
Early in the Wednesday session, EUR/USD traders will will be watching the German Consumer Confidence and Import Price data to see if it generates any strong movement in the cross. Later Wednesday, they will be reacting to US Durable goods and new home sales data.
Technical outlook for EUR/USD
Technicians say that Tuesday’s breakdown below 1.3476 in EUR/USD should open the door to more of a downside correction near-term – likely down to 1.3447 and/or 1.3419. Very short-term resistance comes in at 1.3480 and is followed by the 9/22 peak at 1.3546.