EUR/USD pushes against 1.3400... again

By FXstreet.com | Updated August 15, 2014 AAA

FXStreet (Córdoba) - The EUR/USD is once testing the 1.3400 area in a choppy session where the pair has mainly wavered in a range, unable to define a clear direction.



Despite the latest string of US data had little impact on the pair, the EUR/USD managed to sneak a peek above the psychological level and scored a high of 1.3402. However, the pair has been unable to hold above 1.3400 for long so far this week, printing lower highs over the last 3 days. At time of writing, the EUR/USD is trading at 1.3398, 0.26% above its opening price.



On the data front, the NY Empire State manufacturing index fell to 14.7, versus a reading of 20.0 expected while PPI rose 0.1% in line with forecasts.



EUR/USD levels to watch



as for technical levels, immediate resistances could be found at 1.3415 (Aug 13 high), 1.3432 (Aug 8 high) and 1.3444 (Aug 1 high). On the flip side, supports are seen at 1.3358 (Aug 15 low), 1.3342 (Aug 13 low), 1.3332 (2014 low Aug 6) and 1.3300 (psychological level).



Related Forex Analysis
  1. Weekly Forecast: FX Volatility to Persist on Key Data, Rate Decisions
    Forex News

    Weekly Forecast: FX Volatility to Persist on Key Data, Rate Decisions

  2. Session Recap: When money comes from Japan; EUR/USD at 14-month low, USD/JPY 7-year ...
    Forex News

    Session Recap: When money comes from Japan; EUR/USD at 14-month low, USD/JPY 7-year ...

  3. EUR/USD recovery capped at 1.2540
    Forex News

    EUR/USD recovery capped at 1.2540

  4. USD to gain further support, ECB in focus - Commerzbank
    Forex News

    USD to gain further support, ECB in focus - Commerzbank

  5. EUR/USD downtrend set to continue in the coming weeks - UBS
    Forex News

    EUR/USD downtrend set to continue in the coming weeks - UBS

Trading Center