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Forex pairs in this Article » EUR/USD (Edinburgh) -It now seems the EUR/USD lacks the strength to regain the 1.3500 handle, losing impetus and returning to the area of 1.3485/80.

EUR/USD focus again on Germany

Moving forwards to Wednesday’s docket in the 17-nation bloc, Germany will be in the limelight again as the consumer confidence sponsored by the Gfk Survey is due. Market consensus expects the survey to improve a tad for the month of October to 7.0 from 6.9, although the likeliness of a reaction in the pair is close to zero. Second-tier data from import prices expects an annual contraction of 3.7%. Across the pond, Durable Goods Orders and New Home Sales will get all the attention. Camilla Sutton, Chief Strategist at Scotiabank, remarks the buying condition from the short-term technicals, “we note that momentum has faded as EUR has failed to break to a new high for 3-sessions; however it is too early to fight the bullish EUR studies. Support lies at the psychologically important 1.3400; while resistance lies at last week’s high of 1.3569”.

EUR/USD key levels

At the moment the pair is losing 0.06% at 1.3485 and a breakdown of 1.3453 (high Aug.20) would target 1.3399 (high Aug.28) en route to 1.3385 (high sep.16). On the other hand, the initial hurdle aligns at 1.3525 (hourly cloud top) followed by 1.3555 (high Sep.23) and finally 1.3569 (high Sep.19).
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