Forex: EUR/USD prints low at 1.3415 as Europe morning ends
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EUR/USD
FXstreet.com (Barcelona) - The daily opening remains resistance for the market during the European morning. A new pullback has sent the EURUSD below yesterday's low, at 1.3425, falling down to 1.3415. Investors might have seen these levels has good entry prices ahead of the NY session that will provide US S&P/Case-Shiller Home Prices and consumer confidence data.
"Second-tier data with the S&P/Case-Shiller house price index expected to pick up further in November (mkt 5.5% Y/Y), and the Conference Board's consumer confidence index expected to slip from 65.1 to 64.0 we attach downside risk following the weakness in the Michigan confidence outcome", wrote TD Securities analyst Jacqui Douglas.
"EURUSD is challenging its strong resistance at 1.3487", wrote MIG Bank analyst Bijoy Kar, adding that "the short-term symmetrical triangle favors a move towards 1.3538", while hourly supports can be found at 1.3404 (14/01/2013 high) and 1.3350 (25/01/2013 low).
"Second-tier data with the S&P/Case-Shiller house price index expected to pick up further in November (mkt 5.5% Y/Y), and the Conference Board's consumer confidence index expected to slip from 65.1 to 64.0 we attach downside risk following the weakness in the Michigan confidence outcome", wrote TD Securities analyst Jacqui Douglas.
"EURUSD is challenging its strong resistance at 1.3487", wrote MIG Bank analyst Bijoy Kar, adding that "the short-term symmetrical triangle favors a move towards 1.3538", while hourly supports can be found at 1.3404 (14/01/2013 high) and 1.3350 (25/01/2013 low).
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