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1 Oct 2013
EUR/USD edges higher after fall to 1.3517 bottoms
FXstreet.com (Chicago) - EUR/USD handled to step back up after extending a descent from 1.3589 peaks reached during the European trading session.
No agreement
Weaker than expected German data, the most powerful country in the Euro-zone, sent the pair down as unemployment change was 6.9% vs. 6.8% and the Markit manufacturing PMI was 51.1 vs. past 51.8. In the US, the government remains paralyzed as none of the parties has come to terms. The ISM manufacturing PMI in the US surprised at 56.2 vs. expected 55.
EUR/USD Technical Levels
1.3461 (September 23rd lows), 1.34 (August 27th highs) ahead of 1.3343 (September 17th lows) and the resistances set at 1.3564 (September 26th highs), 1.3631 (February 1st highs) followed by 1.3716 (January 24th highs). According to the ICN technical analysis team, “The trading range for today is among the key support at 1.3485 and key resistance at 1.3715. The general trend over short term basis is sideways with daily closing between 1.2775 and 1.3600.”
No agreement
Weaker than expected German data, the most powerful country in the Euro-zone, sent the pair down as unemployment change was 6.9% vs. 6.8% and the Markit manufacturing PMI was 51.1 vs. past 51.8. In the US, the government remains paralyzed as none of the parties has come to terms. The ISM manufacturing PMI in the US surprised at 56.2 vs. expected 55.
EUR/USD Technical Levels
1.3461 (September 23rd lows), 1.34 (August 27th highs) ahead of 1.3343 (September 17th lows) and the resistances set at 1.3564 (September 26th highs), 1.3631 (February 1st highs) followed by 1.3716 (January 24th highs). According to the ICN technical analysis team, “The trading range for today is among the key support at 1.3485 and key resistance at 1.3715. The general trend over short term basis is sideways with daily closing between 1.2775 and 1.3600.”