12 Nov 2013
EUR/USD regains 1.3400 and beyond
FXstreet.com (Edinburgh) -After dipping to session lows around 1.3360, sudden buying interest is now lifting the EUR/USD to the area above 1.3400 the figure on Tuesday.
EUR/USD boosted by risk appetite
The greenback is losing some momentum today against the backdrop better risk-on tone, prompting buyers to return to the beleaguered euro. Market conditions in the very near term would allow for some consolidation pattern, as no major releases are expected in the euro area with the exception of the flash EMU GDP figures for the third quarter (0.2% QoQ exp.). Previous data in the bloc showed declining consumer prices in Germany and overall stagnant CPI readings from Italy, confirming the recent acceleration in the disinflationary trend amongst the bloc members.
EUR/USD levels to watch
At the moment the pair is losing 0.15% at 1.3393 and a break below 1.3345 (low Nov.11) would open the door to 1.3318 (low Nov.8) and then 1.3295 (low 7 Nov.). On the upside, the immediate resistance aligns at 1.3414 (high Nov.12) ahead of 1.3417 (high Nov.11) and finally 1.3438 (high Nov.8).
EUR/USD boosted by risk appetite
The greenback is losing some momentum today against the backdrop better risk-on tone, prompting buyers to return to the beleaguered euro. Market conditions in the very near term would allow for some consolidation pattern, as no major releases are expected in the euro area with the exception of the flash EMU GDP figures for the third quarter (0.2% QoQ exp.). Previous data in the bloc showed declining consumer prices in Germany and overall stagnant CPI readings from Italy, confirming the recent acceleration in the disinflationary trend amongst the bloc members.
EUR/USD levels to watch
At the moment the pair is losing 0.15% at 1.3393 and a break below 1.3345 (low Nov.11) would open the door to 1.3318 (low Nov.8) and then 1.3295 (low 7 Nov.). On the upside, the immediate resistance aligns at 1.3414 (high Nov.12) ahead of 1.3417 (high Nov.11) and finally 1.3438 (high Nov.8).