Flash: EUR/USD: Toward the Low End of the Range? – TD Securities

FXstreet.com (London) - Research teams at TD Securities said, “An upside surprise to German industrial production data was the key fundamental development in the Eurozone overnight, but did little to offset the pressure on EUR/USD from earlier in the session”.

Key Quotes:

“The USD side of the equation still remains the bigger influence for the moment, and the FOMC minutes this afternoon is the next clear catalyst in that regard”.

“We continue to note that yield spreads are still more consistent with EUR/USD closer to 1.30/32 on a historic basis, and on the charts, the overnight move lower looks to have more room to run before reaching key support”.

“The September FOMC surprise left a gap on the charts at 1.3424/38 the clearest important support zone for the coming days”.