22 Jul 2013
EUR/USD eases from highs
FXstreet.com (Edinburgh) -After climbing above 1.3190, the EUR/USD has returned to the 1.3170/75 region on Monday, as risk appetite seems to be taking a breather.
EUR/USD vs. US docket
Next on tap in the US calendar will be a gauge of the National Activity index sponsored by the Chicago Fed in June (0 exp.) ahead of Existing Home Sales (0.5% MoM exp.) during the same period. Analysts at BTMU commented “the economic calendar is light in the euro-zone with the highlight likely to prove the release of the PMI surveys for July and German IFO which are expected to reveal that the pace of recession continues to gradually ease in early Q3. The ECB's forward guidance will help limit EUR/USD upside for now”.
EUR/USD levels to watch
At the moment the pair up 0.31% at 1.3181 with the next hurdle at 1.3208 (high Jul.11) ahead of 1.3255 (high Jun.21) and finally 1.3261 (76.4% of 1.3417-1.2755). On the flip side, a violation of 1.3115 (low Jul.22) would target 1.3093 (cloud base) en route to 1.3089 (low Jul19).
EUR/USD vs. US docket
Next on tap in the US calendar will be a gauge of the National Activity index sponsored by the Chicago Fed in June (0 exp.) ahead of Existing Home Sales (0.5% MoM exp.) during the same period. Analysts at BTMU commented “the economic calendar is light in the euro-zone with the highlight likely to prove the release of the PMI surveys for July and German IFO which are expected to reveal that the pace of recession continues to gradually ease in early Q3. The ECB's forward guidance will help limit EUR/USD upside for now”.
EUR/USD levels to watch
At the moment the pair up 0.31% at 1.3181 with the next hurdle at 1.3208 (high Jul.11) ahead of 1.3255 (high Jun.21) and finally 1.3261 (76.4% of 1.3417-1.2755). On the flip side, a violation of 1.3115 (low Jul.22) would target 1.3093 (cloud base) en route to 1.3089 (low Jul19).