25 Nov 2013
EUR/USD extends through 1.3500
FXstreet.com (Edinburgh) - The bloc currency recovers the ground beyond 1.3500 the figure on Monday, pushing the EUR/USD back to the 1.3515/20 region.
EUR/USD supported at 1.3490
The risk aversion prevailed throughout the session, dragging the pair from overnight peaks near 1.3560 to as low as 1.3490, where buying interest turned up and managed to lift the pair back beyond 1.3500. “On the charts, 1.3560/70 has become a more solid short term resistance zone for EUR/USD (last week’s high’s, 50-DMA, 50% retrace of Oct/Nov decline), while 1.3500 is the nearest intraday toehold on the downside before the mid 1.34 area comes into view”, observed analysts at TD Securities.
EUR/USD levels to watch
The pair is losing 0.25% at 1.3515 with the immediate support at 1.3490 (MA10d) ahead of 1.3463 (low Nov.22) and finally 1.3404 (daily cloud base). On the flip side, a breakout of 1.3544 (daily cloud top) would target 1.3561 (high Nov.25) en route to 1.3584 (high Nov.20).
EUR/USD supported at 1.3490
The risk aversion prevailed throughout the session, dragging the pair from overnight peaks near 1.3560 to as low as 1.3490, where buying interest turned up and managed to lift the pair back beyond 1.3500. “On the charts, 1.3560/70 has become a more solid short term resistance zone for EUR/USD (last week’s high’s, 50-DMA, 50% retrace of Oct/Nov decline), while 1.3500 is the nearest intraday toehold on the downside before the mid 1.34 area comes into view”, observed analysts at TD Securities.
EUR/USD levels to watch
The pair is losing 0.25% at 1.3515 with the immediate support at 1.3490 (MA10d) ahead of 1.3463 (low Nov.22) and finally 1.3404 (daily cloud base). On the flip side, a breakout of 1.3544 (daily cloud top) would target 1.3561 (high Nov.25) en route to 1.3584 (high Nov.20).