Forex: EUR/USD rises to 1.3350 ahead of US Representatives vote
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EUR/USD
FXstreet.com (Barcelona) - The US House of Representatives will go to a vote soon, on Republicans' initiative for the automatic increase of the debt ceiling until 18th May. Investors are pricing in expectations regarding that issue and pushing the EURUSD higher, currently at 1.3350, still ahead of the NY session.
Besides of the EMU consumer confidence, the economic calendar is light. Mortgage applications rose 11.4% in the week ending at Jan-4, and 15.2% in the week at Jan-11. Data of Jan-18 week points to the third rise in a row, by 7.0%.
The EURUSD continued trading around the 1.3300 psychological level. "While range floor to 1.3280 that proved to be solid support, stays intact, range-trading will remain in play, while break lower would signal a fresh direction and expose 1.3250 and 1.3200", wrote Windsor Brokers analyst Slobodan Drvenica, pointing to 1.3370 on the upside to improve the near-term structure, but only clear break above 1.3400 to signal resumption of an uptrend from 1.2660, 2012 low. The hourly structure is negative.
Besides of the EMU consumer confidence, the economic calendar is light. Mortgage applications rose 11.4% in the week ending at Jan-4, and 15.2% in the week at Jan-11. Data of Jan-18 week points to the third rise in a row, by 7.0%.
The EURUSD continued trading around the 1.3300 psychological level. "While range floor to 1.3280 that proved to be solid support, stays intact, range-trading will remain in play, while break lower would signal a fresh direction and expose 1.3250 and 1.3200", wrote Windsor Brokers analyst Slobodan Drvenica, pointing to 1.3370 on the upside to improve the near-term structure, but only clear break above 1.3400 to signal resumption of an uptrend from 1.2660, 2012 low. The hourly structure is negative.
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