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18 Oct 2013
EUR/USD anchored around 1.3660
FXstreet.com (Edinburgh) -The single currency is extending its consolidation pattern on Friday, with the EUR/USD flat-lining around 1.3660/65.
EUR/USD rangebound
The pair climbed aggressively on Thursday, boosted by the weakness surrounding the greenback after the Chinese rating cut and after the US clinched a deal to leave behind the fiscal stand-off. Empty docket in both the euro bloc and US would leave the pair to the mercy of the risk trends, with the next big event risk being the release of September’s Payrolls on Tuesday, according to the BLS. Analysts at BTMU observed, “recent developments in the euro-zone remain more stable with tightening liquidity conditions leading to investor expectations of higher euro-zone short rates ahead supporting the euro in the near-term. The release of the October PMI surveys should point to a further modest strengthening of economic recovery in the euro-zone”.
EUR/USD key levels
The pair is now losing 0.03% at 0.03% with the next support at 1.3516 (low Oct.17) followed by 1.3479 (low Oct.15) and then 1.33472 (MA30d). On the flipside, a breakout of 1.3668 (high Oct.17) would expose 1.3711 (2013 high Feb.1) and finally the psychological level at 1.3800.
EUR/USD rangebound
The pair climbed aggressively on Thursday, boosted by the weakness surrounding the greenback after the Chinese rating cut and after the US clinched a deal to leave behind the fiscal stand-off. Empty docket in both the euro bloc and US would leave the pair to the mercy of the risk trends, with the next big event risk being the release of September’s Payrolls on Tuesday, according to the BLS. Analysts at BTMU observed, “recent developments in the euro-zone remain more stable with tightening liquidity conditions leading to investor expectations of higher euro-zone short rates ahead supporting the euro in the near-term. The release of the October PMI surveys should point to a further modest strengthening of economic recovery in the euro-zone”.
EUR/USD key levels
The pair is now losing 0.03% at 0.03% with the next support at 1.3516 (low Oct.17) followed by 1.3479 (low Oct.15) and then 1.33472 (MA30d). On the flipside, a breakout of 1.3668 (high Oct.17) would expose 1.3711 (2013 high Feb.1) and finally the psychological level at 1.3800.