22 Oct 2013
EUR/USD hits fresh 2013 highs!
FXstreet.com (Edinburgh) -The shared currency is now picking up pace, lifting the EUR/USD to test fresh ytd highs after September’s NFP disappointed investors.
EUR/USD bolstered by data
The pair is now trading on a firmer tone after the US economy created 148K jobs during September, missing the median at 180k and down from August’s 193K. The unemployment rate came in at 7.2%, below expectations. Analyst Stoyan Mihaylov at DeltaStock.com commented, “The consolidation pattern below 1.3703 high precedes next leg upwards, towards 1.3865. The intraday bias is slightly negative, so allow a dip to 1.3630-10 before renewal of the up move. Crucial on the downside is 1.3567”.
EUR/USD technical levels
The pair is now up 0.46% at 1.3745 and a breakdown of 1.3615 (38.2% of 1.3472-1.3704) would open the door to 1.3600 (psychological level) and finally 1.3582 (MA10d). On the upside, the next resistance aligns at 1.3708 (high Oct.18) followed by 1.3711 (2013 high Feb.1) and then 1.3800 (psychological level).
EUR/USD bolstered by data
The pair is now trading on a firmer tone after the US economy created 148K jobs during September, missing the median at 180k and down from August’s 193K. The unemployment rate came in at 7.2%, below expectations. Analyst Stoyan Mihaylov at DeltaStock.com commented, “The consolidation pattern below 1.3703 high precedes next leg upwards, towards 1.3865. The intraday bias is slightly negative, so allow a dip to 1.3630-10 before renewal of the up move. Crucial on the downside is 1.3567”.
EUR/USD technical levels
The pair is now up 0.46% at 1.3745 and a breakdown of 1.3615 (38.2% of 1.3472-1.3704) would open the door to 1.3600 (psychological level) and finally 1.3582 (MA10d). On the upside, the next resistance aligns at 1.3708 (high Oct.18) followed by 1.3711 (2013 high Feb.1) and then 1.3800 (psychological level).