31 Jul 2013
EUR/USD eases from 1.3300
FXstreet.com (Edinburgh) -After touching 1.3300 the figure on Wednesday, the EUR/USD is now easing some ground to the 1.3280/85 region after mixed EMU data.
EUR/USD remains capped by 1.3300
Once again the pair has been rejected from the critical 1.3300 handle, despite the unemployment rate in the bloc exceeding expectations by a tad at 12.1% in June vs. 12.2% expected. Preliminary EMU’s consumer prices rose 1.6% on a year to July, slightly below the median at 1.7%. in the opinion of Derek Halpenny, European Head of Global Markets Research at BTMU, “Optimism is rising but the improvement is relative and economic conditions will still be very weak over the coming quarters. In our view that means the ECB will come under increasing pressure to do more to stimulate demand after the summer break”.
EUR/USD key levels
The pair is now up 0.14% at 1.3282 and a breakout of 1.3302 (high Jul.20/30) would aim for 1.3325 (low. Jun.18) and then 1.3417 (high Jun.19). On the downside, next support aligns at 1.3234 (low Jul.30) ahead of 1.3208 (high Jul.11) and then 1.3200 (psychological level).
EUR/USD remains capped by 1.3300
Once again the pair has been rejected from the critical 1.3300 handle, despite the unemployment rate in the bloc exceeding expectations by a tad at 12.1% in June vs. 12.2% expected. Preliminary EMU’s consumer prices rose 1.6% on a year to July, slightly below the median at 1.7%. in the opinion of Derek Halpenny, European Head of Global Markets Research at BTMU, “Optimism is rising but the improvement is relative and economic conditions will still be very weak over the coming quarters. In our view that means the ECB will come under increasing pressure to do more to stimulate demand after the summer break”.
EUR/USD key levels
The pair is now up 0.14% at 1.3282 and a breakout of 1.3302 (high Jul.20/30) would aim for 1.3325 (low. Jun.18) and then 1.3417 (high Jun.19). On the downside, next support aligns at 1.3234 (low Jul.30) ahead of 1.3208 (high Jul.11) and then 1.3200 (psychological level).