26 Nov 2013
EUR/USD keeps highs near 1.3560
FXstreet.com (Edinburgh) - The bid tone remains around the shared currency on Tuesday, with the EUR/USD meandering the 1.3555/60 area, just below session peaks.
EUR/USD boosted by poor US data
Lower US consumer confidence in November prompted buyers to return to the EUR, pushing the pair from intraday troughs near 1.3520 to levels beyond 1.3560. The pair thus remains well positioned ahead of tomorrow’s German Gfk Confidence survey and critical US data from Durable Goods Orders, Initial Claims and the Reuters/Michigan index. In the opinion of Stoyan Mihaylov, Strategist at DeltaStock.com, “Yesterday's slide was well bid at 1.3490 support and current intraday bias is bullish, for a break through 1.3579 high, en route to 1.3650 major resistance area. Initial intraday support is projected at 1.3540, followed by the crucial low at 1.3490”.
EUR/USD key levels
The pair is now advancing 0.24% at 1.3552 with the next resistance at 1.3571 (high Nov.26) followed by 1.3575 (MA30d) and finally 1.3584 (high Nov.20). On the downside, a break below 1.3515 (low Nov.26) would target 1.3511 (MA21d) en route to 1.3504 (MA10d).
EUR/USD boosted by poor US data
Lower US consumer confidence in November prompted buyers to return to the EUR, pushing the pair from intraday troughs near 1.3520 to levels beyond 1.3560. The pair thus remains well positioned ahead of tomorrow’s German Gfk Confidence survey and critical US data from Durable Goods Orders, Initial Claims and the Reuters/Michigan index. In the opinion of Stoyan Mihaylov, Strategist at DeltaStock.com, “Yesterday's slide was well bid at 1.3490 support and current intraday bias is bullish, for a break through 1.3579 high, en route to 1.3650 major resistance area. Initial intraday support is projected at 1.3540, followed by the crucial low at 1.3490”.
EUR/USD key levels
The pair is now advancing 0.24% at 1.3552 with the next resistance at 1.3571 (high Nov.26) followed by 1.3575 (MA30d) and finally 1.3584 (high Nov.20). On the downside, a break below 1.3515 (low Nov.26) would target 1.3511 (MA21d) en route to 1.3504 (MA10d).