11 Nov 2013
EUR/USD firm on a 1.34 handle
FXstreet.com (London) - EUR/USD is up 0.34% and trading above the 1.34 handle after gapping on the charts at the start of the week to the upside from lows of 1.3345.
EUR/USD is trading higher against the odds and a currency research team at TD Securities said, “For EUR/USD in particular, the strong US jobs number after the ECB cut the day before gives plenty of cause for more downside from a longer term strategic point of view”. The calendar has been light for the pair at the start of the week. Italian industrial production came in as expected at 0.2% M/M for September, making up slightly for the underperformance of the region earlier in Q3. “This continues to raise small downside risks to the Eurozone GDP print later this week as Germany decelerated and ex-German growth may have been slightly softer than expected as a result”, explained by the TD Securities team..
EUR/USD Levels
The 20 DMA is 1.3622, the 50 DMA is 1.3501 and the 200 DMA is 1.3217. RSI (14) reads 59.82. Supports are ascending from 1.3254, 1.3277, 1.3295, 1.3318, 1.3356, 1.3389. Spot is currently 1.3408 with resistances at 1.3455 and 1.3488.
EUR/USD is trading higher against the odds and a currency research team at TD Securities said, “For EUR/USD in particular, the strong US jobs number after the ECB cut the day before gives plenty of cause for more downside from a longer term strategic point of view”. The calendar has been light for the pair at the start of the week. Italian industrial production came in as expected at 0.2% M/M for September, making up slightly for the underperformance of the region earlier in Q3. “This continues to raise small downside risks to the Eurozone GDP print later this week as Germany decelerated and ex-German growth may have been slightly softer than expected as a result”, explained by the TD Securities team..
EUR/USD Levels
The 20 DMA is 1.3622, the 50 DMA is 1.3501 and the 200 DMA is 1.3217. RSI (14) reads 59.82. Supports are ascending from 1.3254, 1.3277, 1.3295, 1.3318, 1.3356, 1.3389. Spot is currently 1.3408 with resistances at 1.3455 and 1.3488.