21 Nov 2013
EUR/USD well supported 1.3440
FXstreet.com (London) - EUR/USD is a reflection of the markets attitude towards the FOMC still and remains well supported.
EUR/USD has proven a high of 1.3479 and holds the 1.34 handle towards the end of this week. However, there are always two sides to an argument. The ECB’s Asmussen has indicated to the market that negative rates are indeed a possibility. Meanwhile, a research team at Rabobank said until Fed tapering is upon us, EUR/USD set to remain well supported. From the calendar, US Initial Jobless Claims improved from 323k vs the 335k consensus. PPI came in line at 0.3% while PPI ex food and energy year on year was up slightly vs consensus at 1.4% vs 1.3%.
EUR/USD Levels
The 20 DMA is 1.3549, the 50 DMA is 1.3542 and the 200 DMA is 1.3218. RSI (14) reads 51.07. Supports are ascending from 1.3345, 1.3359, 1.3390, 1.3406 and 1.3417. Spot is 1.3453, 1.3475, 1.3488 and 1.3519.
EUR/USD has proven a high of 1.3479 and holds the 1.34 handle towards the end of this week. However, there are always two sides to an argument. The ECB’s Asmussen has indicated to the market that negative rates are indeed a possibility. Meanwhile, a research team at Rabobank said until Fed tapering is upon us, EUR/USD set to remain well supported. From the calendar, US Initial Jobless Claims improved from 323k vs the 335k consensus. PPI came in line at 0.3% while PPI ex food and energy year on year was up slightly vs consensus at 1.4% vs 1.3%.
EUR/USD Levels
The 20 DMA is 1.3549, the 50 DMA is 1.3542 and the 200 DMA is 1.3218. RSI (14) reads 51.07. Supports are ascending from 1.3345, 1.3359, 1.3390, 1.3406 and 1.3417. Spot is 1.3453, 1.3475, 1.3488 and 1.3519.