26 Nov 2013
EUR/USD wavers after US confidence data
FXstreet.com (Córdoba) - The EUR/USD fell to fresh session lows only to quickly bounce back after the latest string of US data showed consumer confidence fell to 70.4 in November missing expectations of 72.9.
The EUR/USD dropped to a low of 1.3520 after data but then bounced toward mid-range levels around 1.3540. Despite intraday volatility, the pair remains well within familiar ranges, unable to set a fresh direction. At time of writing, EUR/USD is trading at the 1.3530 area, virtually unchanged since opening.
EUR/USD technical levels
In terms of technical levels, the EUR/USD could find immediate supports at 1.3515 (daily low), 1.3498/95 (20- &10-day SMA) and 1.3461 (Nov 22 low). On the upside, resistances are seen at 1.3570 (daily high), 1.3589 (Nov 1 high) and 1.3600 (psychological level).
The EUR/USD dropped to a low of 1.3520 after data but then bounced toward mid-range levels around 1.3540. Despite intraday volatility, the pair remains well within familiar ranges, unable to set a fresh direction. At time of writing, EUR/USD is trading at the 1.3530 area, virtually unchanged since opening.
EUR/USD technical levels
In terms of technical levels, the EUR/USD could find immediate supports at 1.3515 (daily low), 1.3498/95 (20- &10-day SMA) and 1.3461 (Nov 22 low). On the upside, resistances are seen at 1.3570 (daily high), 1.3589 (Nov 1 high) and 1.3600 (psychological level).