11 Oct 2013
EUR/USD muted after US sentiment data
FXstreet.com (Córdoba) - The EUR/USD remained fairly unchanged, off daily highs, after data showed US consumers sentiment deteriorated in October, according to the Reuters/Michigan preliminary index.
The index fell to a preliminary October reading of 75.2, the lowest since January, from a final September reading of 77.5. However, the disappointing reading went unnoticed for the EUR/USD, which continued to consolidate at pre-data levels around 1.3555, where it is still up 0.3% on the day.
EUR/USD technical outlook
EUR/USD had reached a peak of 1.3580 during the European session, but lacked momentum to retest the 1.3600 mark and pulled back afterward. From a technical view, Valeria Bednarik, chief analyst at FXstreet.com, notes that EUR/USD maintains a positive tone in short term chats, what should keep the downside limited for today.
Bednarik locates immediate support levels at 1.3530, 1.3490 and 1.3460, while she places resistances at 1.3580, 1.3620 and 1.3645.
The index fell to a preliminary October reading of 75.2, the lowest since January, from a final September reading of 77.5. However, the disappointing reading went unnoticed for the EUR/USD, which continued to consolidate at pre-data levels around 1.3555, where it is still up 0.3% on the day.
EUR/USD technical outlook
EUR/USD had reached a peak of 1.3580 during the European session, but lacked momentum to retest the 1.3600 mark and pulled back afterward. From a technical view, Valeria Bednarik, chief analyst at FXstreet.com, notes that EUR/USD maintains a positive tone in short term chats, what should keep the downside limited for today.
Bednarik locates immediate support levels at 1.3530, 1.3490 and 1.3460, while she places resistances at 1.3580, 1.3620 and 1.3645.