16 Oct 2013
EUR/USD stalls around 1.3530
FXstreet.com (Chicago) - EUR/USD remains trading below the 1.3550 zone despite extension of the bullish channel from 1.3473 bottoms.
Earlier today, an agreement was reached between democrats and republicans to solve the crisis that had the government paralyzed for two weeks. In Europe, CPIs were released with the CPI –core at 1% matching expectations.
EUR/USD Technical Levels
Price action reveals a pair that is offered at 1.3532 and oscillates between the supports aligned at 1.3461 (September 24th lows), 1.34 (August 28th highs) followed by 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 slightly bullish on one-hour timeframe analysis above the EMA20.
Adam Button from ForexLive explains “EUR/USD is now 70 pips from the lows and has nearly completed the 80-pip roundtrip from the start of US trading. I think the unwillingness to push the downside today, even after a break to the lowest of the month, is a telltale sign.”
Earlier today, an agreement was reached between democrats and republicans to solve the crisis that had the government paralyzed for two weeks. In Europe, CPIs were released with the CPI –core at 1% matching expectations.
EUR/USD Technical Levels
Price action reveals a pair that is offered at 1.3532 and oscillates between the supports aligned at 1.3461 (September 24th lows), 1.34 (August 28th highs) followed by 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 slightly bullish on one-hour timeframe analysis above the EMA20.
Adam Button from ForexLive explains “EUR/USD is now 70 pips from the lows and has nearly completed the 80-pip roundtrip from the start of US trading. I think the unwillingness to push the downside today, even after a break to the lowest of the month, is a telltale sign.”