29 Aug 2013
EUR/USD keeps 1.3260, US data eyed
FXstreet.com (Edinburgh) -The single currency remains locked within a narrow range on Thursday, with the EUR/USD hovering over 1.3250/55 ahead of the US docket.
EUR/USD under pressure
Better than expected data from the US weekly labour market and the GDP Annualized during the second quarter carry the potential to boost the greenback and thus drag the pair lower, amidst the ongoing concerns around the Syria front and market chatter regarding the Fed’s tapering. According to analysts at TD Securities, “the 1.3190/3200 area is likely to provide decent support in the near term. In the coming hours, the Eurozone CPI (where there is risk of disappointment) and US data are the catalysts to kept an eye on, and the greater risks leave our bias toward more weight on EUR/USD”.
EUR/USD key levels
At the moment the pair is down 0.57% at 1.3262 and a breach of 1.3206 (low Aug.5) would aim for 1.3188 (low Aug.2) and finally 1.3164 (low Jul.23). On the upside, the initial hurdle lines up at 1.3343 (high Aug.29) followed by 1.3358 (MA10d) and then 1.3399 (high Aug.28).
EUR/USD under pressure
Better than expected data from the US weekly labour market and the GDP Annualized during the second quarter carry the potential to boost the greenback and thus drag the pair lower, amidst the ongoing concerns around the Syria front and market chatter regarding the Fed’s tapering. According to analysts at TD Securities, “the 1.3190/3200 area is likely to provide decent support in the near term. In the coming hours, the Eurozone CPI (where there is risk of disappointment) and US data are the catalysts to kept an eye on, and the greater risks leave our bias toward more weight on EUR/USD”.
EUR/USD key levels
At the moment the pair is down 0.57% at 1.3262 and a breach of 1.3206 (low Aug.5) would aim for 1.3188 (low Aug.2) and finally 1.3164 (low Jul.23). On the upside, the initial hurdle lines up at 1.3343 (high Aug.29) followed by 1.3358 (MA10d) and then 1.3399 (high Aug.28).