Back
7 Oct 2013
Flash: US shutdown continues. EUR/USD sub.13600. What’s next? – Commerzbank and Danske Bank
FXstreet.com (Edinburgh) -After hitting fresh multi-month highs near 1.3650 last week, the shared currency is now posting meager gains on Monday, hovering over 1.3570/75 as markets continues to express their concerns regarding the ongoing US shutdown.
Karen Jones, Head of FICC Technical Analysis at Commerzbank, argued “EUR/USD’s daily RSI failed to confirm last weeks high at 1.3646. This coupled with the close proximity of the 1.3670/1.3710 key resistance increases the risk of failure here this week… Below 1.3453 August high will signal a slide back to the 1.3350/1.3182 55 and 200 day ma”.
“The FX markets are still taking the US government shutdown quite calmly with EUR/USD trading below 1.37… . We have recently seen broad-based pressure on the US dollar and unless we see a solution to the US political deadlock we expect it to continue this week”, commented Arne L. Rasmussen, Analyst at Danske Bank.
Karen Jones, Head of FICC Technical Analysis at Commerzbank, argued “EUR/USD’s daily RSI failed to confirm last weeks high at 1.3646. This coupled with the close proximity of the 1.3670/1.3710 key resistance increases the risk of failure here this week… Below 1.3453 August high will signal a slide back to the 1.3350/1.3182 55 and 200 day ma”.
“The FX markets are still taking the US government shutdown quite calmly with EUR/USD trading below 1.37… . We have recently seen broad-based pressure on the US dollar and unless we see a solution to the US political deadlock we expect it to continue this week”, commented Arne L. Rasmussen, Analyst at Danske Bank.