20 Nov 2013
EUR/USD mixed on data releases
FXstreet.com (London) - EUR/USD has a number of data releases to muddle through with CPI, Retail Sales and Existing Home Sales released moments ago.
CPI for Oct year on year came in line with expectations at 1.0% while Retail Sales improved month on month for Oct at 0.4% vs 0.1% consensus. This number has supported the dollar on the pairs decent from todays high of 1.3580, trading in a bracket of 1.3515/20. The market now awaits existing home sales. Analysts at TD Securities noted, on the charts, EUR/USD’s overnight high managed to reach a key short term resistance zone near 1.3570/80 (50% retrace of Oct/Nov drop, 40-DMA, and a gap on the hourly chart). “We remain broadly bearish, and in the case of a failure to breach this key short term resistance, this could be a decent sell zone”.
EUR/USD Levels
The 20 DMA is 1.3566, the 50 DMA is 1.3540 and the 200 DMA is 1.3218. RSI (14) reads 50.09. Supports are ascending from 1.3474, 1.3488, and 1.3527. Spot is currently 1.3515 while resistances are 1.3542, 1.3584 1.3600 1.3627 and 1.3646.
CPI for Oct year on year came in line with expectations at 1.0% while Retail Sales improved month on month for Oct at 0.4% vs 0.1% consensus. This number has supported the dollar on the pairs decent from todays high of 1.3580, trading in a bracket of 1.3515/20. The market now awaits existing home sales. Analysts at TD Securities noted, on the charts, EUR/USD’s overnight high managed to reach a key short term resistance zone near 1.3570/80 (50% retrace of Oct/Nov drop, 40-DMA, and a gap on the hourly chart). “We remain broadly bearish, and in the case of a failure to breach this key short term resistance, this could be a decent sell zone”.
EUR/USD Levels
The 20 DMA is 1.3566, the 50 DMA is 1.3540 and the 200 DMA is 1.3218. RSI (14) reads 50.09. Supports are ascending from 1.3474, 1.3488, and 1.3527. Spot is currently 1.3515 while resistances are 1.3542, 1.3584 1.3600 1.3627 and 1.3646.