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Forex pairs in this Article » EUR/USD
FXstreet.com (Edinburgh) - The shared currency quickly faded the earlier bull run to the vicinity of 1.3550, with the EUR/USD now creeping back to the 1.3520/25 region.

EUR/USD bounced off 1.3500

After posting weekly highs near 1.3550 on Chinese news – the PBoC would stop intervening in the yuan market – the pair dipped to test the lower band of the range near 1.3500 the figure, just to rebound again to the current area of 1.3520/25. On the data front, Italian industrial figures came in mixed, with industrial orders expanding 7.3% on a yearly basis and sales contracting 1.0%. Next on tap will be EMU’s Construction Output followed by the more relevant German ZEW Survey, with consensus expecting the Economic Sentiment to advance to 54.0 for the month of November. “The uptrend here is intact, heading towards 1.3547 high and a break above the latter will target 1.3650 major resistance. Crucial on the downside is 1.3430 low and minor intraday support is projected at 1.3470”, noted Stoyan Mihaylov, Strategist at DeltaStock.com.

EUR/USD key levels

The pair is now up 0.06% at 1.3514 with the next resistance at 1.3542 (high Nov.18) ahead of 1.3548 (high Nov.6) and then 1.3583 (MA21d). On the flip side, a breakdown of 1.3483 (daily cloud top) would aim for 1.3473 (low Nov.18) and finally 1.3456 (MA10d).
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