8 Aug 2013
EUR/USD back to 1.3360 on US jobs data
FXstreet.com (Ediinburgh) -The EUR/USD recovered the 1.3360 region after the US jobs data bettered expectations in the last week.
EUR/USD keeps the peaks
Initial Claims rose to 333K in the week ended on August 3rd vs. 328K in the previous week (revised), albeit a tad better than the median at 336K. The pair just recovered some pips after a brief knee-jerk to the mid 1.3300s. “EUR/USD could still be drifting higher supported mainly by a more stable risk environment and elements of a European cyclical recovery. The zone of attraction remains 1.3400/20 where trading reports major stop losses. We wait for a clean break past this zone to sell EUR/USD”, suggested Sebatien Galy, Strategist at Societe Generale.
EUR/USD levels to watch
The pair is now advancing 0.18% at 1.3362 facing the next resistance at 1.3417 (high Jun.19) ahead of 1.3456 (high Feb.14) and then 1.3481 (76.4% of 1.3711-1.2740). On the downside, a break below 1.3246 (low Aug.6) would expose 1.3233 (low Aug.5) and finally 1.3200 (psychological level).
EUR/USD keeps the peaks
Initial Claims rose to 333K in the week ended on August 3rd vs. 328K in the previous week (revised), albeit a tad better than the median at 336K. The pair just recovered some pips after a brief knee-jerk to the mid 1.3300s. “EUR/USD could still be drifting higher supported mainly by a more stable risk environment and elements of a European cyclical recovery. The zone of attraction remains 1.3400/20 where trading reports major stop losses. We wait for a clean break past this zone to sell EUR/USD”, suggested Sebatien Galy, Strategist at Societe Generale.
EUR/USD levels to watch
The pair is now advancing 0.18% at 1.3362 facing the next resistance at 1.3417 (high Jun.19) ahead of 1.3456 (high Feb.14) and then 1.3481 (76.4% of 1.3711-1.2740). On the downside, a break below 1.3246 (low Aug.6) would expose 1.3233 (low Aug.5) and finally 1.3200 (psychological level).