15 Nov 2013
EUR/USD heading to 1.3500?
FXstreet.com (Edinburgh) - The shared currency keeps the bid tone at the end of the trading week, with the EUR/USD making its way to 1.3490/1.3500.
EUR/USD key week ahead
The pair is closing the week in an upbeat tone, but would be under pressure during the first half of the next week, as the German ZEW Survey (Tuesday) and the FOMC minutes (Wednesday) are due. Chief Strategist Camilla Sutton at Scotiabank commented, “We believe that politically the road ahead for EUR will become increasingly challenged, with the looming AQR, stress test, banking union discussions and ECB policy all important political tests. We expect ongoing EUR weakness, with a year-end target of 1.3100 and a 2014 target of 1.2500”.
EUR/USD key levels
As of writing the pair is up 0.23% at 1.3490 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 key week ahead
The pair is closing the week in an upbeat tone, but would be under pressure during the first half of the next week, as the German ZEW Survey (Tuesday) and the FOMC minutes (Wednesday) are due. Chief Strategist Camilla Sutton at Scotiabank commented, “We believe that politically the road ahead for EUR will become increasingly challenged, with the looming AQR, stress test, banking union discussions and ECB policy all important political tests. We expect ongoing EUR weakness, with a year-end target of 1.3100 and a 2014 target of 1.2500”.
EUR/USD key levels
As of writing the pair is up 0.23% at 1.3490 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).