17 Oct 2013
EUR/USD rangebound around 1.3500
FXstreet.com (Edinburgh) - The single currency managed to bounce off Wednesday’s lows around 1.3480, taking the EUR/USD back to the current area of the mid 1.3500s.
EUR/USD firmer post-US deal
The pair recovered the ground lost after Democrats and Republicans clinched a deal to raise the debt ceiling through February 7th and re-open the Government shutdown through January 7th. However, the euro keeps the weekly range while markets attention would now shift back to the Fed’s tapering. Ahead in the day, EMU’s Current Account result is of note while Fedspeak, the Philly manufacturing survey and the weekly report on US labour market data are due across the pond.
EUR/USD levels to watch
The pair is now up 0.14% at 1.3553 with the next resistance at 1.3571 (high Oct.15) ahead of 1.3598 (high Oct.14) and finally 1.3605 (high Oct.9). On the flip side, a breakdown of 1.3479 (low Oct.15) would open the door to 1.3467 (low Sep.30) an then 1.3462 (low Sep.25).
EUR/USD firmer post-US deal
The pair recovered the ground lost after Democrats and Republicans clinched a deal to raise the debt ceiling through February 7th and re-open the Government shutdown through January 7th. However, the euro keeps the weekly range while markets attention would now shift back to the Fed’s tapering. Ahead in the day, EMU’s Current Account result is of note while Fedspeak, the Philly manufacturing survey and the weekly report on US labour market data are due across the pond.
EUR/USD levels to watch
The pair is now up 0.14% at 1.3553 with the next resistance at 1.3571 (high Oct.15) ahead of 1.3598 (high Oct.14) and finally 1.3605 (high Oct.9). On the flip side, a breakdown of 1.3479 (low Oct.15) would open the door to 1.3467 (low Sep.30) an then 1.3462 (low Sep.25).