21 Aug 2013
EUR/USD offered to support
FXstreet.com (London) -EUR/USD is trading -0.24% at 1.3382 with a high of 1.3428 into NA mid morning.
The calendar, and start to this week has been quiet, although the pair has still offered traders plenty of movement. Today, the US Existing Home Sales (MoM) arrived at 5.39M in July vs a consensus of 5.10M this afternoon. However, markets are cautious ahead of data that will arrive with far greater focus and importance. This data will be the minutes from the July 30-31 FOMC as the market looks for signals in timing and scale of the Fed’s plans to taper its current QE policy.
EUR/USD remains in positive territory
EUR/USD still remains in positive territory while, for now, only an unexpected drop through the 1.3208/1.3188 support area will alleviate upside pressure, said Karen Jones, Head of FICC Technical Analysis at Commerzbank. Failure here will target the 1.3000 region. Loss of this zone is needed to re-target the 1.2755/40 July and April lows. 20 DMA is 1.3308, the 50 DMA is 1.3186 and the 200 DMA is1.3125. RSI (14) reads 39.53. Supports are ascending from 1.3323, 1.3354. Spot is currently 1.3380 while resistances are 1.3406, 1.3420, 1.3453 and 1.3500/20
The calendar, and start to this week has been quiet, although the pair has still offered traders plenty of movement. Today, the US Existing Home Sales (MoM) arrived at 5.39M in July vs a consensus of 5.10M this afternoon. However, markets are cautious ahead of data that will arrive with far greater focus and importance. This data will be the minutes from the July 30-31 FOMC as the market looks for signals in timing and scale of the Fed’s plans to taper its current QE policy.
EUR/USD remains in positive territory
EUR/USD still remains in positive territory while, for now, only an unexpected drop through the 1.3208/1.3188 support area will alleviate upside pressure, said Karen Jones, Head of FICC Technical Analysis at Commerzbank. Failure here will target the 1.3000 region. Loss of this zone is needed to re-target the 1.2755/40 July and April lows. 20 DMA is 1.3308, the 50 DMA is 1.3186 and the 200 DMA is1.3125. RSI (14) reads 39.53. Supports are ascending from 1.3323, 1.3354. Spot is currently 1.3380 while resistances are 1.3406, 1.3420, 1.3453 and 1.3500/20