24 Oct 2013
EUR/USD below 1.3800 on US data
FXstreet.com (Edinburgh) - The bloc currency slipped back the 1.3800 handle after the US releases on Thursday, with the EUR/USD currently hovering over 1.3790/95.
EUR/USD indifferent after data
The pair quickly abandoned the 1.3810/15 area after the releases from the US docket, where the trade deficit increased a tad to $38.80 billion in August, bettering previous estimates although up from July’s reading at $38.64 (revised from $39.15 billion). On the other hand, Initial Claims dropped to 350K in the week ended on October 18th, down from 362K from the previous week. The forecasts however were expecting 340K. Next on tap will be the flash manufacturing PMI sponsored by Markit for the month of October, with consensus expecting a small drop to 52.5 from 52.8.
EUR/USD levels to watch
At the moment the pair is up 0.26% at 1.3792 and a break above 1.3824 (2013 high Oct.24) would target 1.3859 (high Nov.11 2011) en route to 1.3871 (high Nov.1 2011). On the flip side, the initial support aligns at 1.3741 (low Oct.23) followed by 1.3700 (psychological level) and finally 1.3662 (low Oct.22).
EUR/USD indifferent after data
The pair quickly abandoned the 1.3810/15 area after the releases from the US docket, where the trade deficit increased a tad to $38.80 billion in August, bettering previous estimates although up from July’s reading at $38.64 (revised from $39.15 billion). On the other hand, Initial Claims dropped to 350K in the week ended on October 18th, down from 362K from the previous week. The forecasts however were expecting 340K. Next on tap will be the flash manufacturing PMI sponsored by Markit for the month of October, with consensus expecting a small drop to 52.5 from 52.8.
EUR/USD levels to watch
At the moment the pair is up 0.26% at 1.3792 and a break above 1.3824 (2013 high Oct.24) would target 1.3859 (high Nov.11 2011) en route to 1.3871 (high Nov.1 2011). On the flip side, the initial support aligns at 1.3741 (low Oct.23) followed by 1.3700 (psychological level) and finally 1.3662 (low Oct.22).