25 Jun 2014
EUR/USD remains almost unmoved for fourth running day - FXStreet
FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik GBP/USD observes that the EUR/USD has been stuck in 1.3600 price zone, trading in the narrow 1.3570/1.3620 range for the last four days.
Key quotes
"Tuesday’s positive US data was not enough to push price below 1.3570/80 area, base of its latest range."
"Can today numbers then affect the pair? It will mostly depend on the result: latest GDP reading disappointed and this latest revision is expected even further down, around -1.8%."
"Any reading worse than such should give the EUR/USD a lift, at least in the short term, with intraday resistances at 1.3645 and 1.3680."
"If the numbers are better than the preliminary reading of -1.0% on the other hand, the greenback should see some upward momentum, moreover it the rest of the data released along also favors the US, looking then for a quick test of 1.3550, and if this last gives up, down to 1.3510/20 price zone."
Key quotes
"Tuesday’s positive US data was not enough to push price below 1.3570/80 area, base of its latest range."
"Can today numbers then affect the pair? It will mostly depend on the result: latest GDP reading disappointed and this latest revision is expected even further down, around -1.8%."
"Any reading worse than such should give the EUR/USD a lift, at least in the short term, with intraday resistances at 1.3645 and 1.3680."
"If the numbers are better than the preliminary reading of -1.0% on the other hand, the greenback should see some upward momentum, moreover it the rest of the data released along also favors the US, looking then for a quick test of 1.3550, and if this last gives up, down to 1.3510/20 price zone."