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6 Aug 2013
EUR/USD around 1.3300 on US trade data
FXstreet.com (Edinburgh) - The EUR/USD keeps the range after the US trade deficit shrunk more than forecasted during June to $34.22 billion from May’s 44.10 billion.
EUR/USD eyes 1.3300
The pair keeps pushing higher after the US data, hovering over the proximity of the key 1.3300 mark in another attempt to break above it. The pair remains however within the recent range, waiting for any catalysts to break the consolidation pattern either way. “The EUR has reflected the consolidative mood of markets overnight, despite the EURUSD-supportive narrowing of German-US rate spreads. Technically speaking, the ‘doji’ formed on the weekly chart last week is a topping signal, and the 1.33 area looks like a decent sell zone to us”, suggested analysts at TD Securities.
EUR/USD key levels
As of writing the pair is up 0.25% at 1.3292 with the initial barrier at 1.3311 (high Aug.1) followed by 1.3345 (high Jul.31) and finally 1.3417 (high Jun.19). On the other hand, a break below 1.3200 (psychological level) would target 1.3188 (low Aug.2) en route to 1.3166 (low Jul.25).
EUR/USD eyes 1.3300
The pair keeps pushing higher after the US data, hovering over the proximity of the key 1.3300 mark in another attempt to break above it. The pair remains however within the recent range, waiting for any catalysts to break the consolidation pattern either way. “The EUR has reflected the consolidative mood of markets overnight, despite the EURUSD-supportive narrowing of German-US rate spreads. Technically speaking, the ‘doji’ formed on the weekly chart last week is a topping signal, and the 1.33 area looks like a decent sell zone to us”, suggested analysts at TD Securities.
EUR/USD key levels
As of writing the pair is up 0.25% at 1.3292 with the initial barrier at 1.3311 (high Aug.1) followed by 1.3345 (high Jul.31) and finally 1.3417 (high Jun.19). On the other hand, a break below 1.3200 (psychological level) would target 1.3188 (low Aug.2) en route to 1.3166 (low Jul.25).