3 Dec 2013
EUR/USD back to 1.3550
FXstreet.com (Edinburgh) - The single currency is trading within a tight range on Tuesday, taking the EUR/USD back to the boundaries of 1.3550 pre-European open.
EUR/USD poised for range bound
Very light docket in the euro area would leave the pair to the mercy of the risk trends once again, as only a measure of Spanish unemployment and EMU’s Producer Prices are due today. Across the Atlantic, data releases will not help either, with only the Economic Optimism index due (43.2 exp.). According to Stoyan Mihaylov, Analyst at DeltaStock.com, “The bias here is still positive, for a tight test of 1.3650 resistance area, which is the last hurdle before 1.3832 major high. Crucial on the downside is 1.3558 support”.
EUR/USD key levels
The pair is now advancing 0.07% at 1.3549 with the initial resistance at 1.3616 (high Dec.2) followed by 1.3622 (high Nov.29) and then 1.3628 (61.8% of 1.3833-1.3295). On the flip side, a breakdown of 1.3515 (low Nov.26) would expose 1.3499 (MA21d) and finally 1.3490 (low Nov.25).
EUR/USD poised for range bound
Very light docket in the euro area would leave the pair to the mercy of the risk trends once again, as only a measure of Spanish unemployment and EMU’s Producer Prices are due today. Across the Atlantic, data releases will not help either, with only the Economic Optimism index due (43.2 exp.). According to Stoyan Mihaylov, Analyst at DeltaStock.com, “The bias here is still positive, for a tight test of 1.3650 resistance area, which is the last hurdle before 1.3832 major high. Crucial on the downside is 1.3558 support”.
EUR/USD key levels
The pair is now advancing 0.07% at 1.3549 with the initial resistance at 1.3616 (high Dec.2) followed by 1.3622 (high Nov.29) and then 1.3628 (61.8% of 1.3833-1.3295). On the flip side, a breakdown of 1.3515 (low Nov.26) would expose 1.3499 (MA21d) and finally 1.3490 (low Nov.25).