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25 Nov 2013
EUR/USD in red below 1.3540
FXstreet.com (Edinburgh) - The single currency is now extending its intraday decline, with the EUR/USD hovering over 1.3540/35, down from overnight highs near 1.3560.
EUR/USD range bound
A second-tier docket in the euro area would leave the pair to the mercy of the risk trends at the beginning of the week, as Business Climate in France (97 exp.) and Italian Trade Balance figures are only due today, ahead of a speech by ECB’s Noyer. There will not be much action across the pond either, with only Pending Home Sales and the regional manufacturing gauge by the Dallas Fed index. “Technically, the euro and sterling have scope for additional near-term gains without encountering strong resistance. For the euro the $1.3600-50 area stands in the way of the 2-year high set last month near $1.3830… For the euro, a break of $1.3400 would call this constructive view into question”, suggested the research team at BBH.
EUR/USD levels to watch
The pair is losing 0.07% at 1.3539 with the immediate support at 1.3480 (MA10d) ahead of 1.3463 (low Nov.22) and finally 1.3404 (daily cloud base). On the flip side, a breakout of 1.3560 (high Nov.22) would open the door to 1.3584 (high Nov.20) and then 1.3589 (high Nov.1).
EUR/USD range bound
A second-tier docket in the euro area would leave the pair to the mercy of the risk trends at the beginning of the week, as Business Climate in France (97 exp.) and Italian Trade Balance figures are only due today, ahead of a speech by ECB’s Noyer. There will not be much action across the pond either, with only Pending Home Sales and the regional manufacturing gauge by the Dallas Fed index. “Technically, the euro and sterling have scope for additional near-term gains without encountering strong resistance. For the euro the $1.3600-50 area stands in the way of the 2-year high set last month near $1.3830… For the euro, a break of $1.3400 would call this constructive view into question”, suggested the research team at BBH.
EUR/USD levels to watch
The pair is losing 0.07% at 1.3539 with the immediate support at 1.3480 (MA10d) ahead of 1.3463 (low Nov.22) and finally 1.3404 (daily cloud base). On the flip side, a breakout of 1.3560 (high Nov.22) would open the door to 1.3584 (high Nov.20) and then 1.3589 (high Nov.1).