30 Jul 2013
EUR/USD dipping down to Friday’s low at 1.3252 with flurry of data due out
FXstreet.com (Barcelona) - The EUR/USD has been drifting lower all session and is now threatening to break below Friday’s low at 1.3252.
EUR/USD should move Tuesday as key CPI data is due out
Traders in EUR/USD will be watching German consumer confidence, Spain’s GDP, Eurozone consumer confidence and Germany’s CPI data all before the US session starts Tuesday. Then, in the US, the S&P Case Schiller Home Price Index and US consumer confidence data will be released later in the session.
Technical outlook for EUR/USD
Technicians remain bullish of the EUR/USD in the short-term with an upside target of 1.3417. Very short-term resistance comes in at Friday’s high of 1.3296 and is backed up by Fibonacci projections at 1.3321 and 1.3364. Short-term support comes in at Friday’s low of 1.3252 and is followed up by additional support at the 7/18 closing low of 1.3107.
EUR/USD should move Tuesday as key CPI data is due out
Traders in EUR/USD will be watching German consumer confidence, Spain’s GDP, Eurozone consumer confidence and Germany’s CPI data all before the US session starts Tuesday. Then, in the US, the S&P Case Schiller Home Price Index and US consumer confidence data will be released later in the session.
Technical outlook for EUR/USD
Technicians remain bullish of the EUR/USD in the short-term with an upside target of 1.3417. Very short-term resistance comes in at Friday’s high of 1.3296 and is backed up by Fibonacci projections at 1.3321 and 1.3364. Short-term support comes in at Friday’s low of 1.3252 and is followed up by additional support at the 7/18 closing low of 1.3107.