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4 Oct 2013
EUR/USD retreats to 1.3540
FXstreet.com (Edinburgh) -The shared currency is losing more than a big figure since recent tops around 1.3650, dragging the EUR/USD to test 2-day lows in sub-1.3540 levels.
EUR/USD down on stronger USD
The USD strength finally turned up, weighting on the risk-associated assets and pushing the pair off the previous consolidation pattern around 1.3600 the figure despite the lack of progress regarding the US Government shutdown. “The risks around both the US political dynamic, and the market stubbornly holding onto bearish EUR/USD views, suggests to us that a sharp, capitulation rally in the EUR is a real one”.
EUR/USD key levels
The pair is now losing 0.49% at 1.3552 and a break below 1.3526 (MA10d) would open the door to 1.3505 (low Oct.2) and finally 1.3500 (psychological level). On the upside, the initial barrier aligns at 1.3632 (high Oct.4) followed by 1.3646 (high Oct.3) and then 1.3660 (high Feb.4).
EUR/USD down on stronger USD
The USD strength finally turned up, weighting on the risk-associated assets and pushing the pair off the previous consolidation pattern around 1.3600 the figure despite the lack of progress regarding the US Government shutdown. “The risks around both the US political dynamic, and the market stubbornly holding onto bearish EUR/USD views, suggests to us that a sharp, capitulation rally in the EUR is a real one”.
EUR/USD key levels
The pair is now losing 0.49% at 1.3552 and a break below 1.3526 (MA10d) would open the door to 1.3505 (low Oct.2) and finally 1.3500 (psychological level). On the upside, the initial barrier aligns at 1.3632 (high Oct.4) followed by 1.3646 (high Oct.3) and then 1.3660 (high Feb.4).