6 Sep 2013
EUR/USD flat-lined around 1.3130
FXstreet.com (Edinburgh) -The shared currency remains in the lower end of the recent range, with the EUR/USD extending the overnight flat-line pattern around 1.3130.
EUR/USD hurt by Draghi, eyes on NFP
After dipping to fresh 7-week lows in sub-1.3120 levels post-ECB, the bearishness stayed with the pair during the Asian session, as market participants look across the pond for key data. In the euro area however, Germany’s trade surplus shrunk to €14.3 billion in July from €17.9 billion in the previous month, with both exports and imports missing the median. Next on tap will be French and Italian external sector results and German Industrial Production. US Payrolls are expected at 180K during August while the jobless rate would remain at 7.4%.
EUR/USD levels to watch
As of writing the pair is up 0.02% at 1.3123 and a break above 1.3146 (MA200d) would target 1.3223 (high Sep.5) en route to 1.3237 (high Sep.2). On the downside, the initial support aligns at 1.3104 (50% of 1.2755-1.3453) followed by 1.3089 (low Jul.19) and finally 1.3051 (low Jul.16).
EUR/USD hurt by Draghi, eyes on NFP
After dipping to fresh 7-week lows in sub-1.3120 levels post-ECB, the bearishness stayed with the pair during the Asian session, as market participants look across the pond for key data. In the euro area however, Germany’s trade surplus shrunk to €14.3 billion in July from €17.9 billion in the previous month, with both exports and imports missing the median. Next on tap will be French and Italian external sector results and German Industrial Production. US Payrolls are expected at 180K during August while the jobless rate would remain at 7.4%.
EUR/USD levels to watch
As of writing the pair is up 0.02% at 1.3123 and a break above 1.3146 (MA200d) would target 1.3223 (high Sep.5) en route to 1.3237 (high Sep.2). On the downside, the initial support aligns at 1.3104 (50% of 1.2755-1.3453) followed by 1.3089 (low Jul.19) and finally 1.3051 (low Jul.16).