10 Oct 2013
EUR/USD regains 1.3500 pre-Europe
FXstreet.com (Edinburgh) -The single currency is now leaving session lows in the area of 1.3490 against the greenback, lifting the EUR/USD to retake the key 1.3500 handle on Thursday.
EUR/USD keeps the red
The pair remains vulnerable around 1.3500 the figure however, amidst a continuation of the USD rally and swelling uncertainties regarding the Government shutdown and debt ceiling. Data-wise, Italian Industrial Production figures and the ECB Monthly Report would be in the spotlight in Euroland while the weekly report on the US labour market and some Fedspeak will keep the attention focused across the pond. “If evidence for a delayed tapering of QE by the Fed does built we stand ready to revise up our forecast for EUR/USD at least on a 1 to 3 mth view. Our 3 mth EUR/USD forecast currently stands at 1.32”, suggested Jane Foley, Senior Strategist at Rabobank.
EUR/USD key levels
The pair is now losing 0.21% at 1.3496 and a breakdown of 1.3467 (low Sep.30) would expose 1.3462 (low Sep.25) and then 1.3399 (high Aug.28). On the flip side, the initial resistance lies at 1.3550 (MA10d) followed by 1.3607 9high Oct.8) and then 1.3631 (high Oct.4).
EUR/USD keeps the red
The pair remains vulnerable around 1.3500 the figure however, amidst a continuation of the USD rally and swelling uncertainties regarding the Government shutdown and debt ceiling. Data-wise, Italian Industrial Production figures and the ECB Monthly Report would be in the spotlight in Euroland while the weekly report on the US labour market and some Fedspeak will keep the attention focused across the pond. “If evidence for a delayed tapering of QE by the Fed does built we stand ready to revise up our forecast for EUR/USD at least on a 1 to 3 mth view. Our 3 mth EUR/USD forecast currently stands at 1.32”, suggested Jane Foley, Senior Strategist at Rabobank.
EUR/USD key levels
The pair is now losing 0.21% at 1.3496 and a breakdown of 1.3467 (low Sep.30) would expose 1.3462 (low Sep.25) and then 1.3399 (high Aug.28). On the flip side, the initial resistance lies at 1.3550 (MA10d) followed by 1.3607 9high Oct.8) and then 1.3631 (high Oct.4).