22 Oct 2013
EUR/USD toying with 1.3800
FXstreet.com (Edinburgh) -The bloc currency is intensifying its march north on Tuesday, lifting the EUR/USD to the upper end of today’s range around 1.3785/90.
EUR/USD clings to 2013 highs
The pair finally left the speculations behind and advanced well beyond the previous ytd peak at 1.3711 (February 1st), currently heading towards the psychological mark at 1.3800 as risk appetite continues to lure inflows into the European currency. “ Europe will not want the EUR strength to continue. What little recovery we have seen in the Eurozone economy has been driven by the swing in net trade. With unemployment likely to remain high, a further revival in exports will be critical to any additional acceleration in overall growth”, assessed David Bloom, Global Head of FX Research at HSBC.
EUR/USD key levels
The pair is now up 0.73% at 1.3781 with the next resistance at 1.3800 (psychological level) ahead of 1.3815 (high Nov.14 2011) and then 1.3859 (high Nov.11 2011). On the other hand, a breakdown of 1.3662 (low Oct.220 would open the door to 1.3615 (38.2% of 1.3472 -1.3704) and finally 1.3600 (psychological level).
EUR/USD clings to 2013 highs
The pair finally left the speculations behind and advanced well beyond the previous ytd peak at 1.3711 (February 1st), currently heading towards the psychological mark at 1.3800 as risk appetite continues to lure inflows into the European currency. “ Europe will not want the EUR strength to continue. What little recovery we have seen in the Eurozone economy has been driven by the swing in net trade. With unemployment likely to remain high, a further revival in exports will be critical to any additional acceleration in overall growth”, assessed David Bloom, Global Head of FX Research at HSBC.
EUR/USD key levels
The pair is now up 0.73% at 1.3781 with the next resistance at 1.3800 (psychological level) ahead of 1.3815 (high Nov.14 2011) and then 1.3859 (high Nov.11 2011). On the other hand, a breakdown of 1.3662 (low Oct.220 would open the door to 1.3615 (38.2% of 1.3472 -1.3704) and finally 1.3600 (psychological level).