11 Oct 2013
EUR/USD on steady climb to 1.3540
FXstreet.com (Chicago) - EUR/USD was able to climb to 1.3540 session highs after bouncing off lows on ephemeral hopeful impulse after republicans presented a rejected proposal by president Obama.
EUR/USD Technical Levels
Technically speaking, the pair is offered at 1.3536 and oscillates between supports aligned at 1.3461 (September 24th lows), 1.34 (August 28th highs) ahead of 1.3220 (August 26th lows) and the resistances set at 1.3564 (September 28th highs), 1.3631 (October 4th highs) followed by 1.3716 (January 30th highs). According to the FXstreet.com trend index, the pair is neutral on one-hour timeframe analysis above the EMA20.
Jim Langlands from FXcharts notes that “the Euro has had a choppy but rather directionless session, underpinned by strong bids in EUR/JPY, and is currently unchanged since this time yesterday. It could be that it continues to tread water today, in the hope that further progress is made in Washington over the weekend, and there is little else to go on, with Most US data having been postponed. From the EU, the German CPI data will be the highlight. The technical points remain pretty much unchanged, and below 1.3485, the Euro should see bids at 1.3460 (minor) and then 1.3437 (38.2% of 1.3144/ 1.3645). Below that would head towards 1.3370, where it sat before last month’s surprise FOMC decision by the Fed to sit on their hands and to delay tapering. On the topside, above 1.3540, we would now head back into the consolidation area below 1.3600. Above there, 1.3610 and 1.3645 will see sellers, and 1.3660 resistance remains intact (4 Feb high) and will provide offers ahead of the topside target of 1.3710 (1 Feb. high). Beyond there would see further sellers at 1.3760 and 1.3810 (61.8% of 1.4939/1.2041) which currently remains some way off.”
EUR/USD Technical Levels
Technically speaking, the pair is offered at 1.3536 and oscillates between supports aligned at 1.3461 (September 24th lows), 1.34 (August 28th highs) ahead of 1.3220 (August 26th lows) and the resistances set at 1.3564 (September 28th highs), 1.3631 (October 4th highs) followed by 1.3716 (January 30th highs). According to the FXstreet.com trend index, the pair is neutral on one-hour timeframe analysis above the EMA20.
Jim Langlands from FXcharts notes that “the Euro has had a choppy but rather directionless session, underpinned by strong bids in EUR/JPY, and is currently unchanged since this time yesterday. It could be that it continues to tread water today, in the hope that further progress is made in Washington over the weekend, and there is little else to go on, with Most US data having been postponed. From the EU, the German CPI data will be the highlight. The technical points remain pretty much unchanged, and below 1.3485, the Euro should see bids at 1.3460 (minor) and then 1.3437 (38.2% of 1.3144/ 1.3645). Below that would head towards 1.3370, where it sat before last month’s surprise FOMC decision by the Fed to sit on their hands and to delay tapering. On the topside, above 1.3540, we would now head back into the consolidation area below 1.3600. Above there, 1.3610 and 1.3645 will see sellers, and 1.3660 resistance remains intact (4 Feb high) and will provide offers ahead of the topside target of 1.3710 (1 Feb. high). Beyond there would see further sellers at 1.3760 and 1.3810 (61.8% of 1.4939/1.2041) which currently remains some way off.”