15 Oct 2013
EUR/USD ready to breach 1.3500?
FXstreet.com (Edinburgh) -The euro keeps losing ground against the greenback on Tuesday, pushing the EUR/USD to test the key support at the 1.3500 handle.
EUR/USD selling shaping up
The offered tone around the shared currency is now gathering steam, as the renewed USD strength has coupled with disappointing results from the German ZEW Survey for the month of October, dragging the pair lower. In the opinion of Stoyan Mihaylov, Strategist at DeltaStock.com, “Yesterday's upswing to 1.3597 was the final leg of the consolidation after 1.3482 and I expect a break through 1.3542 support to unleash a slide for 1.3400 area. Key resistance on the upside is still projected at 1.3610”.
EUR/USD key levels
At the moment the pair is losing 0.38% at 1.3508 and a breakdown of 1.3488 (low Oct.10) would expose 1.3446 (MA30d). On the upside, the initial resistance lies at 1.3598 (high Oct.14) followed by 1.3605 (high Oct.9) and then 1.3631 (high Oct.4).
EUR/USD selling shaping up
The offered tone around the shared currency is now gathering steam, as the renewed USD strength has coupled with disappointing results from the German ZEW Survey for the month of October, dragging the pair lower. In the opinion of Stoyan Mihaylov, Strategist at DeltaStock.com, “Yesterday's upswing to 1.3597 was the final leg of the consolidation after 1.3482 and I expect a break through 1.3542 support to unleash a slide for 1.3400 area. Key resistance on the upside is still projected at 1.3610”.
EUR/USD key levels
At the moment the pair is losing 0.38% at 1.3508 and a breakdown of 1.3488 (low Oct.10) would expose 1.3446 (MA30d). On the upside, the initial resistance lies at 1.3598 (high Oct.14) followed by 1.3605 (high Oct.9) and then 1.3631 (high Oct.4).