15 Oct 2013
EUR/USD targets 1.3530 on trading range stop
FXstreet.com (Chicago) - EUR/USD seems to be getting off the trading range after Senate negotiations were suspended in Washington.
Latest news indicate the Senate suspended negotiations weakening the dollar after weaker than expected European data releases. At 59.1, the ZEW Survey failed to beat expected 59.4.
EUR/USD Technical Levels
Price action reveals a pair that bounces off session lows and consolidates reversal above the 1.3520 zone. Offered at 1.3522, the pair oscillates between supports aligned at 1.3461 (September 24th lows), 1.34 (August 28th highs) followed by 1.3220 (August 26th lows) and the resistances set at 1.3564 (September 28th highs), 1.3631 (October 4th highs) followed by 1.3716 (January 30th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis below the EMA20.
Latest news indicate the Senate suspended negotiations weakening the dollar after weaker than expected European data releases. At 59.1, the ZEW Survey failed to beat expected 59.4.
EUR/USD Technical Levels
Price action reveals a pair that bounces off session lows and consolidates reversal above the 1.3520 zone. Offered at 1.3522, the pair oscillates between supports aligned at 1.3461 (September 24th lows), 1.34 (August 28th highs) followed by 1.3220 (August 26th lows) and the resistances set at 1.3564 (September 28th highs), 1.3631 (October 4th highs) followed by 1.3716 (January 30th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis below the EMA20.