29 Aug 2013
EUR/USD dips lower on German data
FXstreet.com (Edinburgh) -The euro continues to give ground on Thursday, this time the EUR/USD is dropping after softer than expected data from the German labour market.
EUR/USD in 2-week lows
The pair is testing the area of 1.3250 - or 2-week lows - after the unemployment change in the German economy increased by 7K during the month of August, coming in lower than both the median and July’s reading. The jobless rate stayed put at 6.8%, broadly in line with market consensus. Further data from the German will show the advanced consumer prices in August, with expectations calling for a yearly rise of 1.7%.
EUR/USD key levels
At the moment the pair is down 0.60% at 1.3260 and a breach of 1.3206 (low Aug.5) would aim for 1.3188 (low Aug.2) and finally 1.3164 (low Jul.23). On the upside, the initial hurdle lines up at 1.3343 (high Aug.29) followed by 1.3358 (MA10d) and then 1.3399 (high Aug.28).
EUR/USD in 2-week lows
The pair is testing the area of 1.3250 - or 2-week lows - after the unemployment change in the German economy increased by 7K during the month of August, coming in lower than both the median and July’s reading. The jobless rate stayed put at 6.8%, broadly in line with market consensus. Further data from the German will show the advanced consumer prices in August, with expectations calling for a yearly rise of 1.7%.
EUR/USD key levels
At the moment the pair is down 0.60% at 1.3260 and a breach of 1.3206 (low Aug.5) would aim for 1.3188 (low Aug.2) and finally 1.3164 (low Jul.23). On the upside, the initial hurdle lines up at 1.3343 (high Aug.29) followed by 1.3358 (MA10d) and then 1.3399 (high Aug.28).