FXStreet (Edinburgh) - The shared currency faded the bullish attempt beyond 1.3210, now dragging the EUR/USD back to the 1.3190 band.
EUR/USD rebounds from 1.3180
The pair continues to suffer the selling mood around the EUR and the ongoing USD rally, following the recent hawkish tone from Chairwoman Yellen and Draghi’s appreciations regarding further easing in the bloc. Data-wise, the most relevant, and only releases will be in the US economy: Durable Goods Orders, Consumer Confidence and the S&P/Case-Shiller index of home prices. In the view of Camilla Sutton, Chief FX Strategist at Scotiabank, “all signals have shifted to strong sell signals and there are no warning signals on the charts. Support lies at the September 2013 low of 1.3105”.
EUR/USD key levels
As of writing the pair is up 0.05% at 1.3198 and a surpass of 1.3221 (high Aug.25) would open the door to 1.3297 (high Aug.22) and finally 1.3324 (high Aug.20). On the flip side, the initial support lines up at 1.3157 (low Sep.9 2013) ahead of 1.3105 (low Sep.6 2013) and then 1.3089 (low Jul.19 2013).