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Forex pairs in this Article » EUR/USD (London) - EUR/USD has been drifting higher this morning ahead of what should be a busy day for the pair.

We have kicked off with major data releases in the German Unemployment change coming in better than expected for the economy there. The reading came in as -7k vrs -4k consensuses and -13k previous. The pair is heading towards 1.3300 and should be supported on that data before EZ CPI at 9GMT. Then up ahead in the afternoon numbers are in from the US in their Q2 GDP, ADP employment and finally we have the FOMC.

EUR/USD may stall at 1.3300

Karen Jones Head of FICC Technical Analysis said EUR/USD continues to falter at resistance above 1.3300. “Directly above here lies the 2013 resistance line at 1.3328 and the key resistance at 1.3360/1.3417. This is where the 2011-2013 downtrend, the 200 week ma and the June high meet and we look for it to hold the topside and provoke failure”. EUR/USD levels are in the form of 20d ma at 1.3104, 50d ma at 1.3115 and 200 d ma at 1.3089. RSI (9) is 64.90 while supports are from 1.3206, 1.3223, 1.3234, 1.3247, 1.3258, with Spot at 1.3290 resistances are 1.3302 1.3328 1.3349.
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