10 Oct 2013
EUR/USD bounces near 1.3520
FXstreet.com (Edinburgh) -The shared currency is now picking up pace against the greenback, pushing the EUR/USD to the vicinity of 1.3520 as risk aversion seems to be taking a breather.
EUR/USD paring earlier losses
The pair is now trimming initial losses, making its way up and trying to recover overnight peaks in the boundaries of 1.3530, leaving behind the poor Italian data from the industrial production during August. Ahead in the day, the weekly report on the US labour market will be in the spotlight as well as speeches by Fed members Bullard and Williams. In the opinion of Emmanuel Ng, analyst at OCBC Bank, “The pair may potentially revert lower if the dollar continues to gain traction on the back of expectations of a compromise on the US fiscal front. On the top side, key resistance is expected only on approach of 1.3600 and then 1.3645 while any break below 1.3500 may invite a test towards 1.3450”.
EUR/USD key levels
The pair is now losing 0.03% at 1.3520 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 paring earlier losses
The pair is now trimming initial losses, making its way up and trying to recover overnight peaks in the boundaries of 1.3530, leaving behind the poor Italian data from the industrial production during August. Ahead in the day, the weekly report on the US labour market will be in the spotlight as well as speeches by Fed members Bullard and Williams. In the opinion of Emmanuel Ng, analyst at OCBC Bank, “The pair may potentially revert lower if the dollar continues to gain traction on the back of expectations of a compromise on the US fiscal front. On the top side, key resistance is expected only on approach of 1.3600 and then 1.3645 while any break below 1.3500 may invite a test towards 1.3450”.
EUR/USD key levels
The pair is now losing 0.03% at 1.3520 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).