4 Nov 2013
EUR/USD dips back below 1.3500
FXstreet.com (Córdoba) - The EUR/USD dipped back below 1.3500 at the beginning of the New York session as failure to stage a stronger recovery put the pair under mild pressure.
The EUR/USD reached a peak of 1.3513 but lacked momentum to extend its recovery and erased intraday gains. Investors may rather to stay sidelined ahead of the ECB decision Thursday and the US NFP Friday, which could see EUR/USD take a breather following last week's strong decline.
EUR/USD technical levels
At time of writing, EUR/USD is trading at the 1.3490 area, virtually unchanged since opening ahead of October ISM New York index and September factory orders. In terms of technical levels, immediate resistances could be found at 1.3513 (daily high) and 1.3589 (Nov 1 high) ahead of 1.3600 (psychological level). On the other hand, supports are seen at 1.3442 (daily low) and 1.3400 (psychological level).
The EUR/USD reached a peak of 1.3513 but lacked momentum to extend its recovery and erased intraday gains. Investors may rather to stay sidelined ahead of the ECB decision Thursday and the US NFP Friday, which could see EUR/USD take a breather following last week's strong decline.
EUR/USD technical levels
At time of writing, EUR/USD is trading at the 1.3490 area, virtually unchanged since opening ahead of October ISM New York index and September factory orders. In terms of technical levels, immediate resistances could be found at 1.3513 (daily high) and 1.3589 (Nov 1 high) ahead of 1.3600 (psychological level). On the other hand, supports are seen at 1.3442 (daily low) and 1.3400 (psychological level).