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Forex pairs in this Article » EUR/USD (Edinburgh) -The EUR/USD is trading almost unchanged from yesterday’s close, hovering over 1.3620/25 amidst a quiet scenario in both the euro area and the US economy.

“The market is immediately supported by an accelerated uptrend at 1.3558 and while above here we would allow for a retest of the 1.3670/1.3711 inter year pivot, where we would expect to see failure (December 2004 high and the February 2013 high)”, observed Karen Jones, Head of FICC Technical Analysis at Commerzbank.

In addition, Derek Halpenny, European Head of Global Markets Research at BTMU, suggested, “We would also expect the euro to perform well on any upturn in financial market volatility. As it is a US-centric risk event and given the desire for investors for liquidity, the euro would likely benefit. Furthermore, the emerging market turmoil in the summer benefitted the dollar and the euro suggesting the euro has taken on a greater safe-haven role now that periphery bond markets are more stable”.
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