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Forex pairs in this Article » EUR/USD (Edinburgh) -The EUR/USD keeps meandering between 1.3510 and 1.3540 on Thursday, as markets are gradually approaching the last part of the US session.

EUR/USD eyes on EMU’s Consumer Confidence

The pair has been rejected from multi-moth peaks around 1.3570 during the European morning, sparking a correction lower to test intraday lows near 1.3510 as profit taking was building up and US data exceeded expectations. Moving forwards to Friday’s docket, Italian Industrial Sales/Orders is the only release ahead of the more relevant EMU’s Consumer Confidence for the month of September. Analysts at TD Securities noted that “In the near term, 1.3500 is the nearest support to watch, while 1.3600/50 are the key topside levels. All that said, the German elections this weekend could still make for a bumpy ride for the EUR in the coming days”.

EUR/USD critical levels

The pair is now up 0.05% at 1.3524 with the next resistance at 1.3598 (high Feb.5) ahead of 1.3660 (high Feb.4) and then 1.3711 (2013 high Feb.1). On the flip side, a breakdown of 1.3501 (low Sep.19) would open the door to 1.3453 (high Aug.20) and finally 1.3399 (high Aug.28).
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