EUR/USD keeps the mood above 1.3200

By FXstreet.com | Updated August 28, 2014 AAA

FXStreet (Edinburgh) - The shared currency is holding on to the 1.3200 handle on Thursday, lifting the EUR/USD to the 1.3210/15 band following data in Euroland

EUR/USD clinching to 1.3200

Spot maintains the bid tone despite the German unemployment increased by 1K (vs. -5K expected) and the jobless rate stayed put at 6.7%, matching forecasts. . Further releases showed that Private Loans in the region contracted at an annual pace of 1.6% in July and the M3 Money Supply expanded 1.8% on a yearly basis. Next of relevance will be EMU’s Consumer Confidence (-10.0 exp.) and Economic Sentiment (101.5 exp.). “The recovery ahead of the support highlighted at 1.3145/50 yesterday suggests that this pair has likely seen a temporary low. The current movement is part of consolidation phase; expect range trading between 1.3175 and 1.3220 for today”, suggested Quek Ser Leang, Market Strategist at UOB Group.

EUR/USD key levels

At the moment the pair is up 0.14% at 1.3212 with the next resistance at 1.3221 (high Aug.25) ahead of 1.3297 (high Aug.22) and finally 1.3324 (high Aug.20). On the flip side, a breakdown of 1.3152 (trend low Aug.27) would aim for 1.3105 (low Sep.6 2013) and then 1.3089 (low Jul.19 2013).

You May Also Like

Related Forex Analysis
  1. German and Eurozone CPI under focus – FXStreet
    Forex News

    German and Eurozone CPI under focus – FXStreet

  2. EUR/USD finds support ahead of 1.2400
    Forex News

    EUR/USD finds support ahead of 1.2400

  3. USD needs Draghi’s help to rise – TD Securities
    Forex News

    USD needs Draghi’s help to rise – TD Securities

  4. EUR plummets on inflation expectations – MP
    Forex News

    EUR plummets on inflation expectations – MP

  5. EUR/USD Breaks Channel from November Low, AUD/USD Skewed by PBoC
    Forex News

    EUR/USD Breaks Channel from November Low, AUD/USD Skewed by PBoC

Trading Center