Forex: EUR/USD ranges at weekly highs after US housing
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EUR/USD
FXstreet.com (Barcelona) - The US NAHB housing market index didn't have much effect on the EURUSD market, leaving the pair ranging at its highs as it was previously. A fresh high was printed during the European morning, at 1.3189, but the EURUSD remains consolidative under a narrow gap.
Republican Boehner may have disappointed some investors by hinting that a deal on the "fiscal cliff" is less closer than thought, as he said his team is working on a back-up plan to avoid most tax hikes from taking effect on January 1, particularly for incomes less than $1 million per year.
"The EURUSD currency pair continues consolidating inside a narrow trading range; there is still a slight possibility that the price may be corrected towards the level of 1.3123 and then continue growing up to reach the target at 1.3280", wrote Igor Sayadov, analyst at Roboforex, calling for a break of the 1.3187 level so that the pair reaches the above mentioned target immediately.
Republican Boehner may have disappointed some investors by hinting that a deal on the "fiscal cliff" is less closer than thought, as he said his team is working on a back-up plan to avoid most tax hikes from taking effect on January 1, particularly for incomes less than $1 million per year.
"The EURUSD currency pair continues consolidating inside a narrow trading range; there is still a slight possibility that the price may be corrected towards the level of 1.3123 and then continue growing up to reach the target at 1.3280", wrote Igor Sayadov, analyst at Roboforex, calling for a break of the 1.3187 level so that the pair reaches the above mentioned target immediately.
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