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17 Sep 2013
EUR/USD closing the day around 1.3350
FXstreet.com (Edinburgh) -The apathy continues to surround the euro towards the end of the trading session on Tuesday, with the EUR/USD gyrating around 1.3350.
EUR/USD ready for the Fed
The pair keeps the buoyancy around 3-week highs, extending its bullish momentum since last week and intensified after Larry Summers abandoned the race for Bernanke’s throne. According to market consensus, the Fed would taper its stimulus programme by $5-$10 billion although Chairman Bernanke would try to ‘talk down’ expectations on rate hikes, weighing on the greenback. In the vision of Camilla Sutton, Chief Strategist at Scotiabank, the short-term studies are mixed, “the MACD is turning more bullish, but the 9-day has failed to cross the 21-day. We see better risk/reward elsewhere”.
EUR/USD key levels
At the moment the pair is advancing 0.17% at 1.3357 facing the next hurdle at 1.3399 (high Aug.28) ahead of 1.3410 (high Aug.23) and then 1.3427 (high Aug.21). On the flip side, a breakdown of 1.3326 (low Sep.17) would target 1.3298 (low Sep.16) en route to 1.3262 (MA10d).
EUR/USD ready for the Fed
The pair keeps the buoyancy around 3-week highs, extending its bullish momentum since last week and intensified after Larry Summers abandoned the race for Bernanke’s throne. According to market consensus, the Fed would taper its stimulus programme by $5-$10 billion although Chairman Bernanke would try to ‘talk down’ expectations on rate hikes, weighing on the greenback. In the vision of Camilla Sutton, Chief Strategist at Scotiabank, the short-term studies are mixed, “the MACD is turning more bullish, but the 9-day has failed to cross the 21-day. We see better risk/reward elsewhere”.
EUR/USD key levels
At the moment the pair is advancing 0.17% at 1.3357 facing the next hurdle at 1.3399 (high Aug.28) ahead of 1.3410 (high Aug.23) and then 1.3427 (high Aug.21). On the flip side, a breakdown of 1.3326 (low Sep.17) would target 1.3298 (low Sep.16) en route to 1.3262 (MA10d).