30 Oct 2013
EUR/USD glued to 1.3760 on US CPI
FXstreet.com (Edinburgh) -The EUR/USD is returning to the comfort zone around 1.3765/70 on Wednesday, after the inflation figures in the US economy came in mixed in September.
EUR/USD range intact
The pair keeps the intraday range so far, fading the post-ADP attempt to the 1.3780 region, after the US headline CPI banged on estimates advancing 1.2% YoY and 0.2% inter-month. The Core reading, however, advanced 1.7% over the last twelve months, missing the median at 1.8%. In light of today’s FOMC gathering, analysts at Investec commented, “The current policy stance is expected to be maintained, although markets will watch for any changes in the tone of the statement, particularly any dovish comments on the recent downturn in labour market data and disruption caused by the government shutdown, which would lend support to the current risk positive mood”.
EUR/USD key levels
The pair is now advancing 0.15% at 1.3765 with the next resistance at 1.3818 (high Oct.28) ahead of 1.3833 (2013 high Oct.25) and finally 1.3859 (high Nov.11 2011). On the flip side, a break below 1.3727 (MA10d) would expose the psychological level at 1.3700 followed by 1.3662 (low Oct.22).
EUR/USD range intact
The pair keeps the intraday range so far, fading the post-ADP attempt to the 1.3780 region, after the US headline CPI banged on estimates advancing 1.2% YoY and 0.2% inter-month. The Core reading, however, advanced 1.7% over the last twelve months, missing the median at 1.8%. In light of today’s FOMC gathering, analysts at Investec commented, “The current policy stance is expected to be maintained, although markets will watch for any changes in the tone of the statement, particularly any dovish comments on the recent downturn in labour market data and disruption caused by the government shutdown, which would lend support to the current risk positive mood”.
EUR/USD key levels
The pair is now advancing 0.15% at 1.3765 with the next resistance at 1.3818 (high Oct.28) ahead of 1.3833 (2013 high Oct.25) and finally 1.3859 (high Nov.11 2011). On the flip side, a break below 1.3727 (MA10d) would expose the psychological level at 1.3700 followed by 1.3662 (low Oct.22).