23 Sep 2013
EUR/USD denying offers, robust in 1.3500 territory?
FXstreet.com (London) - EUR/USD is been hanging onto daily gains of late within the territory of the 1.3500 handle and awaits key data releases on the calendar coming up later on in the week.
The theme in markets for the pair currently has been the German elections. Meanwhile, Teams at TD securities noted the September flash PMIs were mixed, with stronger than expected services in France at 50.7 (cons 49.6, highest since Jan‘12) and Germany at 54.4 (cons 53.0, highest since Feb ‘12), but weaker manufacturing at 51.3 in Germany (cons 52.2) and 49.5 in France (cons 50.1). “The details in the French survey continue to be softer, with on-going job losses and new business volumes unchanged on the month, while in Germany, both of these sub indices showed further gains”. Tomorrow brings German IFO and US Consumer Confidence.
EUR/USD Levels
The 20 DMA is 1.3314, the 50 DMA is 1.3293 and the 200 DMA is 1.3166. RSI (14) reads 41.14 while supports are coming in at 1.3409, 1.3453, 1.3477, and 1.3498. Spot is currently 1.3494. Resistances are 1.3520, 1.3577, 1.3598, 1.3610 and 1.3711.
The theme in markets for the pair currently has been the German elections. Meanwhile, Teams at TD securities noted the September flash PMIs were mixed, with stronger than expected services in France at 50.7 (cons 49.6, highest since Jan‘12) and Germany at 54.4 (cons 53.0, highest since Feb ‘12), but weaker manufacturing at 51.3 in Germany (cons 52.2) and 49.5 in France (cons 50.1). “The details in the French survey continue to be softer, with on-going job losses and new business volumes unchanged on the month, while in Germany, both of these sub indices showed further gains”. Tomorrow brings German IFO and US Consumer Confidence.
EUR/USD Levels
The 20 DMA is 1.3314, the 50 DMA is 1.3293 and the 200 DMA is 1.3166. RSI (14) reads 41.14 while supports are coming in at 1.3409, 1.3453, 1.3477, and 1.3498. Spot is currently 1.3494. Resistances are 1.3520, 1.3577, 1.3598, 1.3610 and 1.3711.