15 Oct 2013
EUR/USD glued to 1.3560, ZEW eyed
FXstreet.com (Edinburgh) -The EUR/USD remains anchored to the 1.3560/70 region on Tuesday, ahead of the German ZEW Survey due later.
EUR/USD looks to US to break the dullness
The next risk release in the euro docket will be the German ZEW Survey, where market consensus placed hopes of improvements in most of its components, although the key Economic Sentiment would stay put at 49.6 for the moth of October. Amidst the ongoing US shutdown and the debt ceiling debate, the potential impact of this indicator has been largely diminished. Emmanuel Ng, Strategist at OCBC Bank, suggested the pair “may continue to mull recent ranges pending further US fiscal developments this week and a 1.3440–1.3645 band may persist”.
EUR/USD key levels
At the moment the pair flat at 1.3560 with the next resistance at 1.3598 (high Oct.14) followed by 1.3605 (high Oct.9) and then 1.3631 (high Oct.4). On the flip side, a breakdown of 1.3550 (low Oct.15) would target 1.3545 (low Oct.14) en route to 1.3518 (low Oct.11).
EUR/USD looks to US to break the dullness
The next risk release in the euro docket will be the German ZEW Survey, where market consensus placed hopes of improvements in most of its components, although the key Economic Sentiment would stay put at 49.6 for the moth of October. Amidst the ongoing US shutdown and the debt ceiling debate, the potential impact of this indicator has been largely diminished. Emmanuel Ng, Strategist at OCBC Bank, suggested the pair “may continue to mull recent ranges pending further US fiscal developments this week and a 1.3440–1.3645 band may persist”.
EUR/USD key levels
At the moment the pair flat at 1.3560 with the next resistance at 1.3598 (high Oct.14) followed by 1.3605 (high Oct.9) and then 1.3631 (high Oct.4). On the flip side, a breakdown of 1.3550 (low Oct.15) would target 1.3545 (low Oct.14) en route to 1.3518 (low Oct.11).