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Forex pairs in this Article » EUR/USD (Edinburgh) -The better tone in the risk appetite is pushing the EUR/USD beyond the key 1.3500 handle at the beginning of the week.

EUR/USD light docket ahead

Data wise, EMU’s Current Account results and Trade Balance figures during September are due today ahead of TIC flows and speeches by Fed’s Dudley and Plosser in the US economy. Positive Chinese housing data overnight – prices up 9.6% in October – would be propping up today’s risk-on trade so far. Analyst Stoyan Mihaylov at commented, “Although the volatility is pretty low, the bias is still bullish within the rising channel from 1.3295 and my outlook is positive, for an advance towards 1.3547, en route to 1.3650. Crucial on the downside is 1.3388”.

EUR/USD key levels

The pair is now up 0.01% at 1.3493 with the next resistance at 1.3529 (high Nov.7) ahead of 1.3548 (high Nov.6). On the flip side, a breach of 1.3457 (MA10d) would expose 1.3433 (low Nov.15) and finally 1.3418 (low Nov.14).
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