20 Nov 2013
EUR/USD drifting back?
FXstreet.com (London) - EUR/USD will be subject to a raft of US data coming up with CPI, Retail Sales and Existing Home Sales. Meanwhile the pair is sitting back below DMA 50 between 1.3520/30.
Analyst's at TD Securities noted that EUR/USD managed to grind higher overnight, although ahead of the North American open the pair is essentially back to flat from yesterday’s close. “There were no significant macro developments to speak of, but on the charts EUR/USD’s overnight high managed to reach a key short term resistance zone near 1.3570/80 (50% retrace of Oct/Nov drop, 40-DMA, and a gap on the hourly chart). We remain broadly bearish, and in the case of a failure to breach this key short term resistance, this could be a decent sell zone”.
EUR/USD Levels
The 20 DMA is 1.3566, the 50 DMA is 1.3540 and the 200 DMA is 1.3218. RSI (14) reads 50.09. Supports are ascending from 1.3474, 1.3488, and 1.3527. Spot is currently 1.3528 while resistances are 1.3542, 1.3584 1.3600 1.3627 and 1.3646.
Analyst's at TD Securities noted that EUR/USD managed to grind higher overnight, although ahead of the North American open the pair is essentially back to flat from yesterday’s close. “There were no significant macro developments to speak of, but on the charts EUR/USD’s overnight high managed to reach a key short term resistance zone near 1.3570/80 (50% retrace of Oct/Nov drop, 40-DMA, and a gap on the hourly chart). We remain broadly bearish, and in the case of a failure to breach this key short term resistance, this could be a decent sell zone”.
EUR/USD Levels
The 20 DMA is 1.3566, the 50 DMA is 1.3540 and the 200 DMA is 1.3218. RSI (14) reads 50.09. Supports are ascending from 1.3474, 1.3488, and 1.3527. Spot is currently 1.3528 while resistances are 1.3542, 1.3584 1.3600 1.3627 and 1.3646.