13 May 2014
EUR/USD gives weak life signs
FXStreet (Córdoba) - The EUR/USD seems to be waking up from a long lethargic period at the beginning of the European session, attempting to catch momentum.
The euro is giving weak life signs, having climbed to marginal new high for the day of 1.3770. However, the EUR/USD lacked follow-through and was unable to break above the 1.3775 zone, which has been capping the upside this week.
The EUR/USD has been locked in some consolidation, trading within a very slim range, after Draghi’s easing signals sent the pair to monthly lows last week. At time of writing, the EUR/USD is trading at 1.3767, 0.08% above its opening price.
The Eurozone and Germany's ZEW survey are the main indicators in the pipeline for the European session, while US retail sales will take center attention in New York trade.
EUR/USD technical levels
In terms of technical levels, immediate supports are seen at 1.3745/39 (May 9 low/100-day SMA), 1.3700 (psychological level) and 1.3672 (Apr 4 low). On the other hand, resistances could be found at 1.3774 (May 12 high), 1.3800 (psychological level) and 1.3824 (50-day SMA).
The euro is giving weak life signs, having climbed to marginal new high for the day of 1.3770. However, the EUR/USD lacked follow-through and was unable to break above the 1.3775 zone, which has been capping the upside this week.
The EUR/USD has been locked in some consolidation, trading within a very slim range, after Draghi’s easing signals sent the pair to monthly lows last week. At time of writing, the EUR/USD is trading at 1.3767, 0.08% above its opening price.
The Eurozone and Germany's ZEW survey are the main indicators in the pipeline for the European session, while US retail sales will take center attention in New York trade.
EUR/USD technical levels
In terms of technical levels, immediate supports are seen at 1.3745/39 (May 9 low/100-day SMA), 1.3700 (psychological level) and 1.3672 (Apr 4 low). On the other hand, resistances could be found at 1.3774 (May 12 high), 1.3800 (psychological level) and 1.3824 (50-day SMA).