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18 Oct 2013
EUR/USD just pips away from 1.3700
FXstreet.com (Edinburgh) -The key level at 1.3700 still remains elusive for the EUR/USD, now extending its weekly rally to levels beyond 1.3690 on Friday.
EUR/USD eyes on 2013 peaks
The pair finally managed to break higher from the almost 4-week consolidation pattern around the 1.3500 handle, propelled by the increasing offered tone around the greenback, despite the recent US fiscal deal. Further decent slew of results from the Chinese economy also added to the bullish sentiment, ahead of next week’s critical US NFP. In the opinionof Emmanuel Ng, Analyst at OCBC Bank, “After popping above 1.3600 yesterday, the EUR-USD may attempt to base build with 1.3700 (before 1.3720) expected to be an immediate ceiling while supports are expected at 1.3646 and then 1.3620 before 1.3600”.
EUR/USD critical levels
At the moment the pair is advancing 0.09% at 1.3689 with the next resistance at 1.3711 (2013 high Feb.1) followed by the psychological level at 1.3800 and then 1.3815 (high Nov.14 2011). On the downside, a breach of 1.3660 (low Oct.8) would target 1.3573 (MA10d) and then 1.3516 (low Oct.17).
EUR/USD eyes on 2013 peaks
The pair finally managed to break higher from the almost 4-week consolidation pattern around the 1.3500 handle, propelled by the increasing offered tone around the greenback, despite the recent US fiscal deal. Further decent slew of results from the Chinese economy also added to the bullish sentiment, ahead of next week’s critical US NFP. In the opinionof Emmanuel Ng, Analyst at OCBC Bank, “After popping above 1.3600 yesterday, the EUR-USD may attempt to base build with 1.3700 (before 1.3720) expected to be an immediate ceiling while supports are expected at 1.3646 and then 1.3620 before 1.3600”.
EUR/USD critical levels
At the moment the pair is advancing 0.09% at 1.3689 with the next resistance at 1.3711 (2013 high Feb.1) followed by the psychological level at 1.3800 and then 1.3815 (high Nov.14 2011). On the downside, a breach of 1.3660 (low Oct.8) would target 1.3573 (MA10d) and then 1.3516 (low Oct.17).