25 Sep 2013
EUR/USD hovers around 1.3500, uninspired by US data
FXstreet.com (Córdoba) - The EUR/USD has continued to consolidate just above the 1.3500 mark during the New York session, unmoved by the release of new home sales data and a negative turn in Wall Street.
EUR/USD unmoved by new home sales gain
US new home sales rose 7.9% to a seasonally adjusted annual rate of 421,000 in August, rebounding after a large drop in July. However, the EUR/USD was barely affected by the data and was last around 1.3505, still 0.3% above its opening price.
The shared currency made it back above 1.3500 versus the dollar during the European session as market focus turns to budget negotiations in the US. However, the advance was capped by the 1.3520 area, confining EUR/USD to a phase of consolidation.
EUR/USD technical outlook
Valeria Bednarik, chief analyst at FXstreet.com notes that short-term indicators remain neutral, giving no clues on direction at the time being. Meanwhile, he analyst locates next supports at 1.3450, 1.3415 and 1.3385 and resistances at 1.3520 and 1.3550 followed by 1.3585.
EUR/USD unmoved by new home sales gain
US new home sales rose 7.9% to a seasonally adjusted annual rate of 421,000 in August, rebounding after a large drop in July. However, the EUR/USD was barely affected by the data and was last around 1.3505, still 0.3% above its opening price.
The shared currency made it back above 1.3500 versus the dollar during the European session as market focus turns to budget negotiations in the US. However, the advance was capped by the 1.3520 area, confining EUR/USD to a phase of consolidation.
EUR/USD technical outlook
Valeria Bednarik, chief analyst at FXstreet.com notes that short-term indicators remain neutral, giving no clues on direction at the time being. Meanwhile, he analyst locates next supports at 1.3450, 1.3415 and 1.3385 and resistances at 1.3520 and 1.3550 followed by 1.3585.