24 Jul 2013
EUR/USD inching higher, around 1.3240
FXstreet.com (Edinburgh) -After a brief knee-jerk to the area of 1.3230, the EUR/USD managed to regain some pips and trade back around 1.3245/50 on Wednesday.
EUR/USD now looks to the US docket
Next on tap in the US calendar will be the advanced Markit manufacturing PMI for the month of July – expected to remain at 51.9 – and New Home Sales (485K exp.). A continuation of the softer data from the US housing sector would provide the pair with extra fuel and surely another attempt to session highs. Analyst Anthony Samaha at ForexSurvivor commented, “The Buy column is filled between 13100 and13210, targeting the yearly downtrend resistance trendline @13330. A close below 13050 negates the constructive scenario”.
EUR/USD levels to watch
At the moment the pair is advancing 0.15% at 1.3244 with the next hurdle at 1.3255 (high Jun.21) ahead of 1.3261 (76.4% of 1.3417-1.2755) and then 1.3302 (high Jun.20). On the downside, a break below 1.3190 (low Jul.24) would open the door to 1.3164 (low Jul.23) and then 1.3115 (low Jul.22).
EUR/USD now looks to the US docket
Next on tap in the US calendar will be the advanced Markit manufacturing PMI for the month of July – expected to remain at 51.9 – and New Home Sales (485K exp.). A continuation of the softer data from the US housing sector would provide the pair with extra fuel and surely another attempt to session highs. Analyst Anthony Samaha at ForexSurvivor commented, “The Buy column is filled between 13100 and13210, targeting the yearly downtrend resistance trendline @13330. A close below 13050 negates the constructive scenario”.
EUR/USD levels to watch
At the moment the pair is advancing 0.15% at 1.3244 with the next hurdle at 1.3255 (high Jun.21) ahead of 1.3261 (76.4% of 1.3417-1.2755) and then 1.3302 (high Jun.20). On the downside, a break below 1.3190 (low Jul.24) would open the door to 1.3164 (low Jul.23) and then 1.3115 (low Jul.22).