26 Sep 2013
EUR/USD clings to 1.3500 after US GDP
FXstreet.com (Edinburgh) -The single currency remained apathetic after US results came in mixed, with the EUR/USD keeps the area around the key 1.3500 handle.
EUR/USD indifferent post-data
We can almost said the pair just ignored the current US calendar, keeping the recent range after Initial Claims fell to 305K in the week ending on September 20, while the third revision of the economic activity showed an annual expansion of 2.5%, matching the median at 2.5%. Next up will be the Pending Home Sales, with consensus expecting a monthly contraction of 1.0%. “In the near term, the common currency may continue to push the envelope against the greenback with 1.3545 an initial resistance before the recent high around 1.3569. On the downside, supports are seen on approach of 1.3500 before 1.3455”, commented Emmanuel Ng, Strategist at OCBC Bank.
EUR/USD key levels
At the moment the pair is losing 0.23% at 1.3495 with the immediate support at 1.3459 (23.6% of 1.3104-.13569) followed by 1.3453 (high Au.20) and then 1.3399 (high Aug.28). On the upside, a surpass of 1.3555 (high Sep.23) would expose 1.3569 (high Sep.19) and finally 1.3598 (high Feb.5).
EUR/USD indifferent post-data
We can almost said the pair just ignored the current US calendar, keeping the recent range after Initial Claims fell to 305K in the week ending on September 20, while the third revision of the economic activity showed an annual expansion of 2.5%, matching the median at 2.5%. Next up will be the Pending Home Sales, with consensus expecting a monthly contraction of 1.0%. “In the near term, the common currency may continue to push the envelope against the greenback with 1.3545 an initial resistance before the recent high around 1.3569. On the downside, supports are seen on approach of 1.3500 before 1.3455”, commented Emmanuel Ng, Strategist at OCBC Bank.
EUR/USD key levels
At the moment the pair is losing 0.23% at 1.3495 with the immediate support at 1.3459 (23.6% of 1.3104-.13569) followed by 1.3453 (high Au.20) and then 1.3399 (high Aug.28). On the upside, a surpass of 1.3555 (high Sep.23) would expose 1.3569 (high Sep.19) and finally 1.3598 (high Feb.5).