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Forex pairs in this Article » EUR/USD (Edinburgh) -The bloc currency accelerates its downside on Wednesday, pushing the EUR/USD to another test of the 1.3240 region ahead of German data.

EUR/USD testing weekly lows

The pair continues to trade in a soft tone ahead of key events in the euro area and the US economy, with bull attempts capped by 1.3300 the figure and pullbacks well contained around 1.3240 so far. As the FOMC meeting looms, Strategist Rob Carnell at ING, commented, “survey evidence is already suggesting that 3Q and 4Q13 GDP growth will be better. And we suspect that the Fed will pay little attention to these figures, preferring instead to focus on higher frequency indicators, such as this Friday’s payrolls and unemployment rate numbers. If there is any bond market rally on weakness, we expect it will be modest, and may be short-lived”.

EUR/USD key levels

The pair is now losing 0.10% at 1.3248 facing the next support at 1.3234 (low Jul.30) ahead of 1.3208 (high Jul.11) and then 1.3200 (psychological level). On the upside, a breakout of 1.3268 (high Jul.31) would clear the way to 1.3302 (high Jul.20/30) and finally 1.3325 (low. Jun.18).
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