2 Jul 2013
EUR/USD flat around 1.3060
Fxstreet.com (Edinburgh) - The shared currency is trading almost unchanged against the greenback on Tuesday, keeping the EUR/USD in a narrow range around 1.3060/70.
EUR/USD range-bound
There is not much happening in the euro area today, as the only releases will be the Spanish Unemployment Change and Producer Prices in the EMU. Expectations are for a drop by 83.5K and a contraction of 0.2% on a monthly basis, respectively. Mike Jones, Currency Strategist at BNZ, commented, “This week’s US data feast continues tonight with factory orders and the ISM index for New York. Solid numbers are likely from both. However, the Fed’s labour market focus means the market reaction could be subdued as investors await Friday’s payrolls data”.
EUR/USD key levels
At the moment the pair is flat at 1.3063 with the next resistance at 1.3103 (high Jun.28) ahead of 1.3115 (MA30d) and finally 1.3151 (high Jun.25). On the downside, a break below 1.3004 (low Jul.1) would open the door to 1.2991 (low Jun.28) and then 1.2985 (low Jun.26).
EUR/USD range-bound
There is not much happening in the euro area today, as the only releases will be the Spanish Unemployment Change and Producer Prices in the EMU. Expectations are for a drop by 83.5K and a contraction of 0.2% on a monthly basis, respectively. Mike Jones, Currency Strategist at BNZ, commented, “This week’s US data feast continues tonight with factory orders and the ISM index for New York. Solid numbers are likely from both. However, the Fed’s labour market focus means the market reaction could be subdued as investors await Friday’s payrolls data”.
EUR/USD key levels
At the moment the pair is flat at 1.3063 with the next resistance at 1.3103 (high Jun.28) ahead of 1.3115 (MA30d) and finally 1.3151 (high Jun.25). On the downside, a break below 1.3004 (low Jul.1) would open the door to 1.2991 (low Jun.28) and then 1.2985 (low Jun.26).