18 Jul 2013
EUR/USD sidelined around 1.3100
FXstreet.com (Edinburgh) -The EUR/USD seems to be stabilizing in the area of 1.3100 the figure on Thursday, as market participants look to the US docket as a potential catalyst for prices during the European afternoon.
EUR/USD vs. US data
The bottom line from Bernanke’s semi-annual testimony on Wednesday is that any modification of the Fed’s stimulus programme will hinge on the upcoming data in the US economy. Absent a relevant docket in the euro area, traders will be closely watching the weekly report on the labour market and the Philly Fed manufacturing survey, with forecasts pointing to a drop in Claims to 345K and 7.8 from the regional survey.
EUR/USD levels to watch
At the moment the pair is retreating 0.15% at 1.3105 with the next support at 1.3078 (MA200d) followed by 1.3051 (low Jul.16) and finally 1.3036 (MA21d). On the upside, a break above 1.3179 (high Jul.17) would expose 1.3208 (high Jul.11) and then 1.3255 (high Jun.21).
EUR/USD vs. US data
The bottom line from Bernanke’s semi-annual testimony on Wednesday is that any modification of the Fed’s stimulus programme will hinge on the upcoming data in the US economy. Absent a relevant docket in the euro area, traders will be closely watching the weekly report on the labour market and the Philly Fed manufacturing survey, with forecasts pointing to a drop in Claims to 345K and 7.8 from the regional survey.
EUR/USD levels to watch
At the moment the pair is retreating 0.15% at 1.3105 with the next support at 1.3078 (MA200d) followed by 1.3051 (low Jul.16) and finally 1.3036 (MA21d). On the upside, a break above 1.3179 (high Jul.17) would expose 1.3208 (high Jul.11) and then 1.3255 (high Jun.21).