26 Sep 2013
EUR/USD regains 1.3500
FXstreet.com (Edinburgh) -After bottoming near 1.3480, the EUR/USD managed to pick up pace and retake the 1.3500 handle on Thursday.
EUR/USD range-bound
The pair seems to get back its composure after a bout of weakness stemming from the Italian political arena dragged the euro to test intraday lows in the boundaries of 1.3480 against the greenback. Buyers are back now, lifting the pair beyond 1.3500 ahead of US employment and housing data. Following the last Fed fiasco, Strategist Jane Foley at Rabobank commented, “That said, on the back of Fed tapering expectations we expect that by year-end the euro will have retreated back towards EUR/USD 1.3200. However, we don’t expect the euro to give up ground willingly to the USD and we maintain a 6 mth forecast of 1.300”.
EUR/USD key levels
At the moment the pair is losing 0.14% at 1.3507 with the immediate support at 1.3459 (23.6% of 1.3104-.13569) followed by 1.3453 (high Au.20) and then 1.3399 (high Aug.28). On the upside, a surpass of 1.3555 (high Sep.23) would expose 1.3569 (high Sep.19) and finally 1.3598 (high Feb.5).
EUR/USD range-bound
The pair seems to get back its composure after a bout of weakness stemming from the Italian political arena dragged the euro to test intraday lows in the boundaries of 1.3480 against the greenback. Buyers are back now, lifting the pair beyond 1.3500 ahead of US employment and housing data. Following the last Fed fiasco, Strategist Jane Foley at Rabobank commented, “That said, on the back of Fed tapering expectations we expect that by year-end the euro will have retreated back towards EUR/USD 1.3200. However, we don’t expect the euro to give up ground willingly to the USD and we maintain a 6 mth forecast of 1.300”.
EUR/USD key levels
At the moment the pair is losing 0.14% at 1.3507 with the immediate support at 1.3459 (23.6% of 1.3104-.13569) followed by 1.3453 (high Au.20) and then 1.3399 (high Aug.28). On the upside, a surpass of 1.3555 (high Sep.23) would expose 1.3569 (high Sep.19) and finally 1.3598 (high Feb.5).