11 Oct 2013
EUR/USD in consolidation range
FXstreet.com (Edinburgh) -The EUR/USD is extending the congestion pattern delimited by 1.3520 and 1.3540 on Friday, as the US political stand-off remains unsolved.
EUR/USD key levels
President Obama and congressional leaders could not come to an agreement on Thursday, although they left the door open for further talks, keeping alive the chances of a solution for both the federal shutdown and the debt ceiling. Ahead in the day, inflation figures in Germany, Spain and Italy will be in the limelight in the euro area while the advanced result from the Consumer Sentiment sponsored by the Reuters/Michigan index will be the most relevant release across the pond. According to Stoyan Mihaylov, Analyst at DeltaStock.com, “My outlook here is negative below 1.3540 resistance, for another slide towards 1.3390-3410 break-out area. Crucial on the upside is 1.3610 resistance”.
EUR/USD levels to watch
The pair is now up 0.12% at 1.3536 with the next resistance at 1.3552 (MA10d) followed by 1.3607 (high Oct.8) and then 1.3631 (high Oct.4). On the downside, a breach of 1.3467 (low Sep.30) would expose 1.3462 (low Sep.25) and then 1.3399 (high Aug.28).
EUR/USD key levels
President Obama and congressional leaders could not come to an agreement on Thursday, although they left the door open for further talks, keeping alive the chances of a solution for both the federal shutdown and the debt ceiling. Ahead in the day, inflation figures in Germany, Spain and Italy will be in the limelight in the euro area while the advanced result from the Consumer Sentiment sponsored by the Reuters/Michigan index will be the most relevant release across the pond. According to Stoyan Mihaylov, Analyst at DeltaStock.com, “My outlook here is negative below 1.3540 resistance, for another slide towards 1.3390-3410 break-out area. Crucial on the upside is 1.3610 resistance”.
EUR/USD levels to watch
The pair is now up 0.12% at 1.3536 with the next resistance at 1.3552 (MA10d) followed by 1.3607 (high Oct.8) and then 1.3631 (high Oct.4). On the downside, a breach of 1.3467 (low Sep.30) would expose 1.3462 (low Sep.25) and then 1.3399 (high Aug.28).