3 Oct 2013
EUR/USD clinging to the 1.3600 handle
FXstreet.com (Edinburgh) -The single currency is extending its weekly upside, now taking the EUR/USD to the boundaries of 1.3600 after hitting fresh highs beyond 1.3620 overnight.
EUR/USD focus on PMI
The pair keeps edging higher, recently boosted by Italian PM E.Letta winning the vote of confidence in the Senate and thus bringing some peace to the turbulent political scenario in the peninsula. Further impulse came from the ECB, as Draghi repeated himself in yesterday’s meeting against consensus of a dovish tone. In the data front, the final readings of the services PMI will be in the limelight in the euro area, followed by EMU’s retail sales. Interesting calendar across the pond as well, with the usual weekly report on the labour market, factory orders and ISM non-manufacturing. Fed’s members Williams, Fisher and Powell will also give speeches in the European evening.
EUR/USD key levels
The pair is now advancing 0.17% at 1.3602 with the next resistance at 1.3660 (high Feb.4) followed by 1.3711 (2013 high Feb.1) and finally 1.3800 (psychological level). On the downside, a break below 1.3505 (low Oct.2) would aim for 1.3500 (psychological level) and then 1.3467 (low Sep.30).
EUR/USD focus on PMI
The pair keeps edging higher, recently boosted by Italian PM E.Letta winning the vote of confidence in the Senate and thus bringing some peace to the turbulent political scenario in the peninsula. Further impulse came from the ECB, as Draghi repeated himself in yesterday’s meeting against consensus of a dovish tone. In the data front, the final readings of the services PMI will be in the limelight in the euro area, followed by EMU’s retail sales. Interesting calendar across the pond as well, with the usual weekly report on the labour market, factory orders and ISM non-manufacturing. Fed’s members Williams, Fisher and Powell will also give speeches in the European evening.
EUR/USD key levels
The pair is now advancing 0.17% at 1.3602 with the next resistance at 1.3660 (high Feb.4) followed by 1.3711 (2013 high Feb.1) and finally 1.3800 (psychological level). On the downside, a break below 1.3505 (low Oct.2) would aim for 1.3500 (psychological level) and then 1.3467 (low Sep.30).