23 Oct 2013
EUR/USD resilient around 1.3760
FXstreet.com (Edinburgh) -The EUR/USD remains resilient in the area of 1.3750/60 on Wednesday, despite the context favouring the risk-on trade.
EUR/USD now looks at Consumer Confidence
Data wise, next on tap in the 17-nation region will be the preliminary gauge of the Consumer Confidence, with consensus expecting the measure to improve a tad to -14.4 for the month of October from September’s -14.9. According to analysts at TD Securities, “EURUSD has retraced yesterday’s moves overnight, although overall the EUR has held up better against the USD than most other currencies. Without much on the calendar today, consolidation is likely the name of the game ahead of German/EZ PMIs tomorrow”.
EUR/USD key levels
At the moment the pair is losing 0.13% at 1.3762 and a breakdown of 1.3662 (low Oct.22) would open the door to 1.3651 (low Oct.21) and finally 1.3628 (MA10d). On the upside, the initial resistance aligns at 1.3793 (2013 high Oct.22) followed by 1.3800 (psychological level) and then 1.3815 (high Nov.14 2011).
EUR/USD now looks at Consumer Confidence
Data wise, next on tap in the 17-nation region will be the preliminary gauge of the Consumer Confidence, with consensus expecting the measure to improve a tad to -14.4 for the month of October from September’s -14.9. According to analysts at TD Securities, “EURUSD has retraced yesterday’s moves overnight, although overall the EUR has held up better against the USD than most other currencies. Without much on the calendar today, consolidation is likely the name of the game ahead of German/EZ PMIs tomorrow”.
EUR/USD key levels
At the moment the pair is losing 0.13% at 1.3762 and a breakdown of 1.3662 (low Oct.22) would open the door to 1.3651 (low Oct.21) and finally 1.3628 (MA10d). On the upside, the initial resistance aligns at 1.3793 (2013 high Oct.22) followed by 1.3800 (psychological level) and then 1.3815 (high Nov.14 2011).