19 Nov 2013
EUR/USD higher for the session Monday but still below “underbelly resistance” at 1.3530
FXstreet.com (Barcelona) - The EUR/USD is continuing to creep higher as Yellen & Bernanke’s desired effect of a lower DXY is giving the cross a boost. However, it remains stuck below the resistance of the broken uptrend line at 1.3530.
EUR/USD traders to monitor European data and Fed Heads Tuesday
Tuesday’s data calendar sports the Germany’s Current situation report and the ZEW Economic Surveys out of Europe and Germany during the European session as well as and several Fed Heads making the rounds the US.
Technical outlook for EURUSD
Technicians say the chart of the EUR/USD could repair itself technically ONLY if it can manage to close back above the broken uptrend line at around 1.3530. That level is backed up by the 11/6 high of 1.3547. The nearest support levels for EUR/USD comes in at Thursday’s low of 1.3477 and Wednesday’s low of 1.3389.
EUR/USD traders to monitor European data and Fed Heads Tuesday
Tuesday’s data calendar sports the Germany’s Current situation report and the ZEW Economic Surveys out of Europe and Germany during the European session as well as and several Fed Heads making the rounds the US.
Technical outlook for EURUSD
Technicians say the chart of the EUR/USD could repair itself technically ONLY if it can manage to close back above the broken uptrend line at around 1.3530. That level is backed up by the 11/6 high of 1.3547. The nearest support levels for EUR/USD comes in at Thursday’s low of 1.3477 and Wednesday’s low of 1.3389.