25 Sep 2013
EUR/USD flirts with 1.3540
FXstreet.com (Edinburgh) -The offered tone around the greenback is intensifying on Wednesday, lifting the EUR/USD to test weekly highs in the 1.3540/50 band.
EUR/USD now looks at 1.3570
Multi-month peaks at 1.3570 posted after the tapering fiasco last week now seems to be just around the corner, as the USD keeps losing steam. Mixed US data from long-lasting goods orders plus a better number out of the new home sales have done nothing to curb the prevailing selling tone in the USD. “On the short term charts, the EUR is looking quite buoyant against several crosses this morning, and for EUR/USD there is little in the way of resistance ahead of 1.3540/50. In the case of decent US data however, 1.3460/70 before the more important 1.3425/35 will be the initial supports to watch”, noted analysts at TD Securities.
EUR/USD key levels
At the moment the pair is up 0.40% at 1.3528 with the immediate resistance at 1.3555 (high Sep.23) followed by 1.3569 (high Sep.19) and finally 1.3598 (high Feb.5). On the downside, a violation of 1.3459 (23.6% of 1.3104-1.3569) would open the door to 1.3453 (high Aug.20) and then 1.3399 (high Aug.28)
EUR/USD now looks at 1.3570
Multi-month peaks at 1.3570 posted after the tapering fiasco last week now seems to be just around the corner, as the USD keeps losing steam. Mixed US data from long-lasting goods orders plus a better number out of the new home sales have done nothing to curb the prevailing selling tone in the USD. “On the short term charts, the EUR is looking quite buoyant against several crosses this morning, and for EUR/USD there is little in the way of resistance ahead of 1.3540/50. In the case of decent US data however, 1.3460/70 before the more important 1.3425/35 will be the initial supports to watch”, noted analysts at TD Securities.
EUR/USD key levels
At the moment the pair is up 0.40% at 1.3528 with the immediate resistance at 1.3555 (high Sep.23) followed by 1.3569 (high Sep.19) and finally 1.3598 (high Feb.5). On the downside, a violation of 1.3459 (23.6% of 1.3104-1.3569) would open the door to 1.3453 (high Aug.20) and then 1.3399 (high Aug.28)