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28 Jan 2014
EUR/USD testing lows near 1.3660
FXstreet.com (Edinburgh) - The single currency is now trading on the soft side vs. the greenback on Tuesday, dragging the EUR/USD to intraday lows near 1.3660.
EUR/USD looks to US for direction
It seems today’s price action would largely hinge on the USD-side of the equation, as the euro calendar is almost non-existent. Across the pond, Dec Durable Goods Orders, home prices by S&P/Case-Shiller and US Consumer Confidence will be in the spotlight and would be the driving forces behind the greenback. Emmanuel Ng, Strategist at OCBC Bank, noted “Intra-day, we remain largely neutral with the pair expected to ply a 1.3635 – 1.3710 range pending further news flow”.
EUR/USD levels to consider
As of writing the pair is losing 0.05% at 1.3666 with the immediate support at 1.3653 (low Jan.27) followed by 1.3635 (21-d MA) and finally 1.3615 (10-d MA). On the upside, a surpass of 1.3716 (high Jan.27) would target 1.3740 (high Jan.24) en route to 1.3776 (2014 high Jan.2).
EUR/USD looks to US for direction
It seems today’s price action would largely hinge on the USD-side of the equation, as the euro calendar is almost non-existent. Across the pond, Dec Durable Goods Orders, home prices by S&P/Case-Shiller and US Consumer Confidence will be in the spotlight and would be the driving forces behind the greenback. Emmanuel Ng, Strategist at OCBC Bank, noted “Intra-day, we remain largely neutral with the pair expected to ply a 1.3635 – 1.3710 range pending further news flow”.
EUR/USD levels to consider
As of writing the pair is losing 0.05% at 1.3666 with the immediate support at 1.3653 (low Jan.27) followed by 1.3635 (21-d MA) and finally 1.3615 (10-d MA). On the upside, a surpass of 1.3716 (high Jan.27) would target 1.3740 (high Jan.24) en route to 1.3776 (2014 high Jan.2).