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27 Nov 2013
EUR/USD clinging to 1.3600
FXstreet.com (Edinburgh) - The firmer buying interest around the euro is helping the EUR/USD to retain upper end of the range around 1.3600 the figure on Wednesday.
EUR/USD focus on the US calendar
The pair continues to recover the ground lost in late October-early November, strongly bouncing off levels just below the 1.3300 handle. The pair would be under pressure in light of the upcoming US docket, where Initial Claims, Durable Goods Orders and the Reuters/Michigan index will be the main releases. Lee Hardman, Curreny Analyst at BTMU, commented, “The euro continues to remain resilient in the near-term to building expectations of further ECB monetary easing. ECB Governing Council member Hansson became the latest ECB member yesterday to leave the door open to further easing noting that “I think it looks like inflation will be towards the lower end (of their target) for some time”.
EUR/USD key levels
At the moment the pair is up 0.17% at 1.3593 with the next resistance at 1.3628 (61.8% of 1.3822-1.3295) ahead of 1.3696 (low Oct.30) and then 1.3729 (high Oct.31). On the downside, a dip beyond 1.3558 (low Nov.27) would target 1.3515 (low Nov.26) en route to 1.3504 (MA21d).
EUR/USD focus on the US calendar
The pair continues to recover the ground lost in late October-early November, strongly bouncing off levels just below the 1.3300 handle. The pair would be under pressure in light of the upcoming US docket, where Initial Claims, Durable Goods Orders and the Reuters/Michigan index will be the main releases. Lee Hardman, Curreny Analyst at BTMU, commented, “The euro continues to remain resilient in the near-term to building expectations of further ECB monetary easing. ECB Governing Council member Hansson became the latest ECB member yesterday to leave the door open to further easing noting that “I think it looks like inflation will be towards the lower end (of their target) for some time”.
EUR/USD key levels
At the moment the pair is up 0.17% at 1.3593 with the next resistance at 1.3628 (61.8% of 1.3822-1.3295) ahead of 1.3696 (low Oct.30) and then 1.3729 (high Oct.31). On the downside, a dip beyond 1.3558 (low Nov.27) would target 1.3515 (low Nov.26) en route to 1.3504 (MA21d).