3 Sep 2013
EUR/USD hits fresh lows on ISM data
FXstreet.com (Córdoba) - The EUR/USD extended losses following the latest string of US data which showed ISM manufacturing PMI rose more than expected in August, giving the USD a lift across the board. Separated data also showed US construction spending grew 0.6% in July, exceeding expectations.
EUR/USD contained by 200-day SMA
EUR/USD fell to a fresh 6-week low of 1.3143 before finding support at the 200-day SMA in recent dealings. At time of writing, EUR/USD is trading at the 1.3155 zone, recording a 0.3% loss on the day.
EUR/USD levels to watch
As for technical levels, a break below 1.3143 (200-day SMA) could see EUR/USD falling toward 1.3115 ((Jul 22 low) and even to 1.3090 (Jul 19 low). On the upside, resistances line up at 1.3196 (daily high) and 1.3225 (Sep 2 high) ahead of 1.3255 (Aug 30 high).
EUR/USD contained by 200-day SMA
EUR/USD fell to a fresh 6-week low of 1.3143 before finding support at the 200-day SMA in recent dealings. At time of writing, EUR/USD is trading at the 1.3155 zone, recording a 0.3% loss on the day.
EUR/USD levels to watch
As for technical levels, a break below 1.3143 (200-day SMA) could see EUR/USD falling toward 1.3115 ((Jul 22 low) and even to 1.3090 (Jul 19 low). On the upside, resistances line up at 1.3196 (daily high) and 1.3225 (Sep 2 high) ahead of 1.3255 (Aug 30 high).