25 Oct 2013
EUR/USD treads water around 1.3800
FXstreet.com (Córdoba) - The EUR/USD is back at the flat line around 1.3800 after rejection from the 23-month high of 1.3830 was contained by 1.3774.
The EUR/USD came under mild pressure during the European session following soft German IFO readings but moves lacked momentum confining the pair to gravitate around the 1.3800 mark. The latest string of US data including US durable goods orders, consumer confidence and wholesale inventories offered no motivation to the pair.
EUR/USD technical outlook
The EUR/USD is currently trading around 1.3795/1.3800, virtually unchanged on the day and with short-term indicators offering no clear signs according to Valeria Bednarik, chief analyst at FXstreet.com. "Strong acceleration above 1.3805 is required to confirm further upward potential ahead", Bednarik says. The analyst locates immediate resistances at 1.3805, 1.3835 and 1.3860, while she sees supports at 1.3770, 1.3735 and 1.3710.
The EUR/USD came under mild pressure during the European session following soft German IFO readings but moves lacked momentum confining the pair to gravitate around the 1.3800 mark. The latest string of US data including US durable goods orders, consumer confidence and wholesale inventories offered no motivation to the pair.
EUR/USD technical outlook
The EUR/USD is currently trading around 1.3795/1.3800, virtually unchanged on the day and with short-term indicators offering no clear signs according to Valeria Bednarik, chief analyst at FXstreet.com. "Strong acceleration above 1.3805 is required to confirm further upward potential ahead", Bednarik says. The analyst locates immediate resistances at 1.3805, 1.3835 and 1.3860, while she sees supports at 1.3770, 1.3735 and 1.3710.