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20 Sep 2013
EUR/USD eyes 1.3550, recovery sharpens
FXstreet.com (Edinburgh) -The single currency is now gathering steam, pushing the EUR/USD towards fresh highs in the proximities of 1.3550 on Friday.
EUR/USD bounces off 1.3520
After dipping to intraday lows around 1.3520, buyers turned up and pushed the pair to fresh peaks around 1.3545/50 despite the context continues to favour the risk aversion. Ahead in the day, EMU’s Consumer Confidence will be in the spotlight, with consensus expecting an advance to -14.5 for the month of September. “Although the current structure suggests that dips should be seen as buying opportunities… this is dependent on remaining above 1.3445 (ideally 1.3475). Any deeper pullbacks will threaten the structure of recent gains with a break below 1.3400 undermining this profile and suggest that range resistance has been affirmed in front of 1.3700”.
EUR/USD critical levels
The pair is now up 0.10% at 1.3543 with the next resistance at 1.3569 (high Sep.19) followed by 1.3598 (high Feb.5) and finally 1.3660 (high Feb.4). On the flip side, a breakdown of 1.3501 (low Sep.19) would open the door to 1.3453 (high Aug.20) and finally 1.3399 (high Aug.28).
EUR/USD bounces off 1.3520
After dipping to intraday lows around 1.3520, buyers turned up and pushed the pair to fresh peaks around 1.3545/50 despite the context continues to favour the risk aversion. Ahead in the day, EMU’s Consumer Confidence will be in the spotlight, with consensus expecting an advance to -14.5 for the month of September. “Although the current structure suggests that dips should be seen as buying opportunities… this is dependent on remaining above 1.3445 (ideally 1.3475). Any deeper pullbacks will threaten the structure of recent gains with a break below 1.3400 undermining this profile and suggest that range resistance has been affirmed in front of 1.3700”.
EUR/USD critical levels
The pair is now up 0.10% at 1.3543 with the next resistance at 1.3569 (high Sep.19) followed by 1.3598 (high Feb.5) and finally 1.3660 (high Feb.4). On the flip side, a breakdown of 1.3501 (low Sep.19) would open the door to 1.3453 (high Aug.20) and finally 1.3399 (high Aug.28).