15 Nov 2013
EUR/USD back around 1.3480
FXstreet.com (Edinburgh) - The correction from the area around 1.3500 found support around 1.3470 on Friday, where buyers turned up and lifted the EUR/USD back to the 1.3480/85 region.
EUR/USD still capped by 1.3500
The pair is prolonging the weekly upside although the 1.3500/10 band still remains elusive despite the ongoing tone favourable to riskier assets. On a weekly basis, the pair finally managed to revert the previous two consecutive pullbacks, bolstered solely by the USD weakness induced by the tone of Janet Yellen and at the same time shrugging off the poor results from the EMU’s GDP during Q3. S.Osborne and G.Moore, FX Strategists at TD Securities observed, “we continue to look for a further slide as we head into the end of the year. The short-end rates markets continue to point to 1.30/31 as a more consistent level for EUR/USD”.
EUR/USD key levels
As of writing the pair is up 0.14% at 1.3479 with the next resistance at 1.3506 (high Nov.15) ahead of 1.3529 (high Nov.7) and finally 1.3548 (high Nov.6). On the flip side, a breakdown of 1.3458 (MA10d) would open the door to 1.3418 (low Nov.14) and then 1.3390 (low Nov.13).
EUR/USD still capped by 1.3500
The pair is prolonging the weekly upside although the 1.3500/10 band still remains elusive despite the ongoing tone favourable to riskier assets. On a weekly basis, the pair finally managed to revert the previous two consecutive pullbacks, bolstered solely by the USD weakness induced by the tone of Janet Yellen and at the same time shrugging off the poor results from the EMU’s GDP during Q3. S.Osborne and G.Moore, FX Strategists at TD Securities observed, “we continue to look for a further slide as we head into the end of the year. The short-end rates markets continue to point to 1.30/31 as a more consistent level for EUR/USD”.
EUR/USD key levels
As of writing the pair is up 0.14% at 1.3479 with the next resistance at 1.3506 (high Nov.15) ahead of 1.3529 (high Nov.7) and finally 1.3548 (high Nov.6). On the flip side, a breakdown of 1.3458 (MA10d) would open the door to 1.3418 (low Nov.14) and then 1.3390 (low Nov.13).