29 Nov 2013
EUR/USD tests 1.3600
FXstreet.com (Edinburgh) - The shared currency is now losing the grip on Friday, with the EUR/USD putting the key support at 1.3600 to the test.
EUR/USD eyes EMU data
The pair is prolonging its correction lower sparked after overnight peaks beyond 1.3620, ahead of key releases in the EMU: flash consumer prices (0.8% exp.) and the unemployment rate during October (12.5% exp.). According to Senior Analyst Anders Meller Lumholtz at Danske Bank, “High unemployment, weak money and credit growth and lower inflation are keeping pressure high on ECB, though, to deliver more easing. We look for a new 3-year LTRO during Q1 next year”.
EUR/USD levels to watch
As of writing, the pair is flat at 1.3607 with the next resistance at 1.3619 (high Nov.28) ahead of 1.3628 (61.8% of 1.3833-1.3295) and then 1.3647 (daily cloud top). On the downside, a break below 1.3564 (low Nov.28) would aim for 1.3558 (low Nov.27) and finally 1.3529 (MA10d).
EUR/USD eyes EMU data
The pair is prolonging its correction lower sparked after overnight peaks beyond 1.3620, ahead of key releases in the EMU: flash consumer prices (0.8% exp.) and the unemployment rate during October (12.5% exp.). According to Senior Analyst Anders Meller Lumholtz at Danske Bank, “High unemployment, weak money and credit growth and lower inflation are keeping pressure high on ECB, though, to deliver more easing. We look for a new 3-year LTRO during Q1 next year”.
EUR/USD levels to watch
As of writing, the pair is flat at 1.3607 with the next resistance at 1.3619 (high Nov.28) ahead of 1.3628 (61.8% of 1.3833-1.3295) and then 1.3647 (daily cloud top). On the downside, a break below 1.3564 (low Nov.28) would aim for 1.3558 (low Nov.27) and finally 1.3529 (MA10d).