Japan Eco Watchers Survey: Outlook steadies at 53.6 in July

Aug 8, 2013

EUR/USD resting below fresh 7-week highs at 1.3350

The EUR/USD foreign exchange rate is last trading at 1.3342 near session and fresh 7-week highs a couple of pips above, little changed through out the Asian session, ahead of German trade balance at 06:00 GMT.

EUR/USD may be setting up for a top at or near 1.3414; data will drive the action.

With no central bankers on the docket for the next seven trading sessions, the EUR/USD will be data dependent for directional guidance. Technicians give only a little room left for the rally.