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10 Sep 2013
EUR/USD closing the day around 1.3270
FXstreet.com (Edinburgh) -The shared currency is posting meagre gains against the world’s reserve, driving the EUR/USD around 1.3265/70 as we enter the last part of the US session.
EUR/USD momentum to continue?
Again, a very light calendar in the euro zone on Wednesday would prompt the pair to remain range-bound and to surely attempt a break above recent highs in the boundaries of 1.3280. German Consumer Prices during August will be the only event of note in the region, while the US Congress vote on a military intervention in Syria will grab all the attention across the pond. Camilla Sutton, Chief Strategist at Scotiabank, argued the technical studies remain bearish in the short term, adding, “signals are losing momentum as spot struggles to break higher. Support lies at the 50‐day MA of 1.3210, while resistance is at the psychologically important 1.3300 followed by August 29th high of 1.3343. We see better risk/reward elsewhere”.
EUR/USD levels to watch
As of writing the pair is up 0.09% at 1.3268 and a break above 1.3281 (high Sep.9) would aim for 1.3289 (MA30d) and then 1.3298 (low Aug.22). On the flip side the next support aligns at 1.3217 (MA10d) ahead of 1.3157 (low Sep.9) and finally 1.3104 (50% of 1.2755-1.3453).
EUR/USD momentum to continue?
Again, a very light calendar in the euro zone on Wednesday would prompt the pair to remain range-bound and to surely attempt a break above recent highs in the boundaries of 1.3280. German Consumer Prices during August will be the only event of note in the region, while the US Congress vote on a military intervention in Syria will grab all the attention across the pond. Camilla Sutton, Chief Strategist at Scotiabank, argued the technical studies remain bearish in the short term, adding, “signals are losing momentum as spot struggles to break higher. Support lies at the 50‐day MA of 1.3210, while resistance is at the psychologically important 1.3300 followed by August 29th high of 1.3343. We see better risk/reward elsewhere”.
EUR/USD levels to watch
As of writing the pair is up 0.09% at 1.3268 and a break above 1.3281 (high Sep.9) would aim for 1.3289 (MA30d) and then 1.3298 (low Aug.22). On the flip side the next support aligns at 1.3217 (MA10d) ahead of 1.3157 (low Sep.9) and finally 1.3104 (50% of 1.2755-1.3453).