16 Oct 2013
EUR/USD falling below 1.3500
FXstreet.com (Edinburgh) -The single currency is now rapidly depreciating against the greenback on Wednesday, dragging the EUR/USD to fresh lows beyond the key support at 1.3500.
EUR/USD weaker on imminent deal
According to officials in Washington, a deal would be announced shortly, after Democrats and Republicans finally found common ground in order to leave behind the US Government shutdown and rise the debt ceiling, just hours before tomorrow’s deadline. Strategist Stoyan Mihaylov at DeltaStock.com observed “The intraday bias is positive after yesterday's low at 1.3478 and I favor a break through 1.3542 intraday resistance to unleash a rise towards 1.3610, en route to 1.3710. Crucial on the downside is 1.3504”.
EUR/USD key levels
The pair is now down 0.23% at 1.3491 and a breach of 1.3479 (low Oct.15) would target 1.3467 (low Sep.30) en route to 1.3462 (low Sep.25). On the upside, the initial hurdle aligns at 1.3571 (high Oct.15) followed by 1.3598 (high Oct.14) and then 1.3605 (high Oct.9).
EUR/USD weaker on imminent deal
According to officials in Washington, a deal would be announced shortly, after Democrats and Republicans finally found common ground in order to leave behind the US Government shutdown and rise the debt ceiling, just hours before tomorrow’s deadline. Strategist Stoyan Mihaylov at DeltaStock.com observed “The intraday bias is positive after yesterday's low at 1.3478 and I favor a break through 1.3542 intraday resistance to unleash a rise towards 1.3610, en route to 1.3710. Crucial on the downside is 1.3504”.
EUR/USD key levels
The pair is now down 0.23% at 1.3491 and a breach of 1.3479 (low Oct.15) would target 1.3467 (low Sep.30) en route to 1.3462 (low Sep.25). On the upside, the initial hurdle aligns at 1.3571 (high Oct.15) followed by 1.3598 (high Oct.14) and then 1.3605 (high Oct.9).