2 Sep 2013
EUR/USD creating support line
FXstreet.com (London) - EUR/USD is a quiet play sub the 1.3200 handle within a 20 pip range following its decline from 1.3200 overnight. The pair is creating its support around the handle.
With a light calendar, “EM currencies appear the most vulnerable as investors continue to react to higher real USD borrowing costs. We do not expect any change of policy from the ECB on Thursday. With Euroland politics around the periphery appearing in a holding pattern ahead of September's German elections, President Draghi will be choosing his words carefully”. – Paul Robson, strategist, RBS. Meanwhile, the dollar will be a cautious contender with the payrolls data on Friday. “US payrolls are in focus and will be make or break for September tapering”, according to Cristian Maggio, Senior Emerging Markets Strategist, Rates and FX Research at TD Securities, effecting the cross. “…with 100k being the key threshold.”
EUR/USD is supported around the handle
EUR/USD is making its support line around the handle while failure here would open up doors towards 1.3020. The 20 DMA is 1.3326, the 50 DMA is 1.3189 and the 200 DMA is 1.3142. RSI (14) reads 37.83. Supports are ascending from 1.3051, 1.3066, 1.3104, 1.3164. Spot is currently 1.3193 and resistances are 1.3200, 1.3255, 1.3280, 1.3305 and 1.3343.
With a light calendar, “EM currencies appear the most vulnerable as investors continue to react to higher real USD borrowing costs. We do not expect any change of policy from the ECB on Thursday. With Euroland politics around the periphery appearing in a holding pattern ahead of September's German elections, President Draghi will be choosing his words carefully”. – Paul Robson, strategist, RBS. Meanwhile, the dollar will be a cautious contender with the payrolls data on Friday. “US payrolls are in focus and will be make or break for September tapering”, according to Cristian Maggio, Senior Emerging Markets Strategist, Rates and FX Research at TD Securities, effecting the cross. “…with 100k being the key threshold.”
EUR/USD is supported around the handle
EUR/USD is making its support line around the handle while failure here would open up doors towards 1.3020. The 20 DMA is 1.3326, the 50 DMA is 1.3189 and the 200 DMA is 1.3142. RSI (14) reads 37.83. Supports are ascending from 1.3051, 1.3066, 1.3104, 1.3164. Spot is currently 1.3193 and resistances are 1.3200, 1.3255, 1.3280, 1.3305 and 1.3343.