10 Oct 2013
EUR/USD muted around 1.3540 on US data
FXstreet.com (Edinburgh) -The shared currency kept the range after the US employment jobs data, with the EUR/USD gyrating around the 1.3535/40 region.
EUR/USD extends the consolidation
The pair remains well within the weekly range despite US Initial Claims unexpectedly rose to 374K in the week ended on Oct.4 vs. 310K forecasted and 308K from the previous week.
“An overall consolidative EUR reflects the larger sentiment in the FX space this morning as the market awaits further updates on the situation in Washington… We note, however, that rate spreads still point to a ‘fair value’ closer to 1.30/32, and that technically the pair looks set to test support near the mid 1.34 area in the near term”, observed S.Osborne and G.Moore, Strategists at TD Securities.
EUR/USD key levels
The pair is now up 0.09% at 1.3537 with the next resistance at 1.3550 (MA10d) followed by 1.3607 9high Oct.8) and then 1.3631 (high Oct.4). On the downside, a breach of 1.3467 (low Sep.30) would expose 1.3462 (low Sep.25) and then 1.3399 (high Aug.28).
EUR/USD extends the consolidation
The pair remains well within the weekly range despite US Initial Claims unexpectedly rose to 374K in the week ended on Oct.4 vs. 310K forecasted and 308K from the previous week.
“An overall consolidative EUR reflects the larger sentiment in the FX space this morning as the market awaits further updates on the situation in Washington… We note, however, that rate spreads still point to a ‘fair value’ closer to 1.30/32, and that technically the pair looks set to test support near the mid 1.34 area in the near term”, observed S.Osborne and G.Moore, Strategists at TD Securities.
EUR/USD key levels
The pair is now up 0.09% at 1.3537 with the next resistance at 1.3550 (MA10d) followed by 1.3607 9high Oct.8) and then 1.3631 (high Oct.4). On the downside, a breach of 1.3467 (low Sep.30) would expose 1.3462 (low Sep.25) and then 1.3399 (high Aug.28).