11 Oct 2013
EUR/USD falters ahead of 1.3600
FXstreet.com (Córdoba) - The EUR/USD extended gains during the European session and printed fresh daily highs, although the recovery stalled ahead of the 1.3600 mark.
The shared currency is advancing after 3 consecutive days of losses, having broken above the 10-day SMA at 1.3555 and the 200-hour SMA at 1.3560 to hit a 2-day peak of 1.3580 before losing momentum. The EUR/USD has recovered nearly 100 pips ever since bottoming at the 1.3485 zone Wednesday.
EUR/USD technical levels
At time of writing, EUR/USD is trading at the 1.3565 region, recording a 0.3% gain, with immediate resistances lining up at 1.3580 (daily high) and 1.3600 (psychological level) ahead of 1.3645 (Oct 3 high). On the downside, supports are seen at 1.3515 (daily low/20-day SMA) and 1.3485 (Oct 9 low) followed by 1.3476 (Sep 30 low).
USD weakens
The USD is retreating across the board Friday on better sentiment amid hopes of a debt ceiling extension. Meanwhile, with the US shutdown, the only indicator due for Friday NY session will be the Reuters/Michigan consumer sentiment index.
The shared currency is advancing after 3 consecutive days of losses, having broken above the 10-day SMA at 1.3555 and the 200-hour SMA at 1.3560 to hit a 2-day peak of 1.3580 before losing momentum. The EUR/USD has recovered nearly 100 pips ever since bottoming at the 1.3485 zone Wednesday.
EUR/USD technical levels
At time of writing, EUR/USD is trading at the 1.3565 region, recording a 0.3% gain, with immediate resistances lining up at 1.3580 (daily high) and 1.3600 (psychological level) ahead of 1.3645 (Oct 3 high). On the downside, supports are seen at 1.3515 (daily low/20-day SMA) and 1.3485 (Oct 9 low) followed by 1.3476 (Sep 30 low).
USD weakens
The USD is retreating across the board Friday on better sentiment amid hopes of a debt ceiling extension. Meanwhile, with the US shutdown, the only indicator due for Friday NY session will be the Reuters/Michigan consumer sentiment index.