26 May 2014
EUR/USD deflates from highs
FXStreet (Edinburgh) -After climbing to fresh intraday highs beyond 1.3640, the EUR/USD is now easing to the 1.3635/30 area.
EUR/USD poised for consolidation?
Absence of data releases and thin trade will characterize today’s session, following the bank holiday in the UK and the Memorial Day in the US. In the data front, the only indicator today was the Consumer Confidence gauged by the Gfk survey in Germany for the month of June, matching estimates and previous print at 8.5. “. We expect gains to remain contained though and look for resistance in the 1.3675/00 zone to provide an opportunity for sellers. The 100-day MA at 1.3739 is now major resistance”, commented Shaun Osborne, Chief FX Strategist at TD Securities.
EUR/USD key levels
As of writing the pair is up 0.04% at 1.3635 and a surpass of 1.3658 (high May 23) would open the door to 1.3688 (high May 22) and finally 1.3723 (high May 21). On the flip side, the initial support aligns at 1.3616 (low May 23) followed by 1.3585 (low Feb.13) ahead of 1.3563 (low Feb.12).
EUR/USD poised for consolidation?
Absence of data releases and thin trade will characterize today’s session, following the bank holiday in the UK and the Memorial Day in the US. In the data front, the only indicator today was the Consumer Confidence gauged by the Gfk survey in Germany for the month of June, matching estimates and previous print at 8.5. “. We expect gains to remain contained though and look for resistance in the 1.3675/00 zone to provide an opportunity for sellers. The 100-day MA at 1.3739 is now major resistance”, commented Shaun Osborne, Chief FX Strategist at TD Securities.
EUR/USD key levels
As of writing the pair is up 0.04% at 1.3635 and a surpass of 1.3658 (high May 23) would open the door to 1.3688 (high May 22) and finally 1.3723 (high May 21). On the flip side, the initial support aligns at 1.3616 (low May 23) followed by 1.3585 (low Feb.13) ahead of 1.3563 (low Feb.12).