28 Oct 2013
EUR/USD dips to 1.3790
FXstreet.com (Edinburgh) -The shared currency is now rapidly losing the grip, dragging the EUR/USD to test intraday lows in the vicinity if 1.37895/80.
EUR/USD heading to 1.3780
The current pullback trespassed overnight lows around 1.3790 as selling interest seems to gather steam now, amidst absence of volatility and market expectations tilted towards the FOMC gathering on Wednesday. “On the charts, EUR/USD has lost some upward momentum over the past few days, but there are few important resistance levels to point to ahead of 1.40, and we haven’t seen any strong topping signals yet. Fundamental the pair continues to look rich to us, and short term yield spreads continue to suggest EUR/USD would be more consistent at a level closer to 1.32/33”, observed Strategists S.Osborne and G.Moore at TD Securities.
EUR/USD critical levels
As of writing the pair is retreating 0.13% at 1.3785 with the immediate support at 1.3774 (low Oct.25) followed by 1.3764 (low Oct.24) and then 1.3741 (low Oct.23). On the upside, a break above 1.3833 (2013 highs Oct.25) would aim for 1.3859 (high Nov.11 2011) and then 1.3871 (high Nov.1 2011).
EUR/USD heading to 1.3780
The current pullback trespassed overnight lows around 1.3790 as selling interest seems to gather steam now, amidst absence of volatility and market expectations tilted towards the FOMC gathering on Wednesday. “On the charts, EUR/USD has lost some upward momentum over the past few days, but there are few important resistance levels to point to ahead of 1.40, and we haven’t seen any strong topping signals yet. Fundamental the pair continues to look rich to us, and short term yield spreads continue to suggest EUR/USD would be more consistent at a level closer to 1.32/33”, observed Strategists S.Osborne and G.Moore at TD Securities.
EUR/USD critical levels
As of writing the pair is retreating 0.13% at 1.3785 with the immediate support at 1.3774 (low Oct.25) followed by 1.3764 (low Oct.24) and then 1.3741 (low Oct.23). On the upside, a break above 1.3833 (2013 highs Oct.25) would aim for 1.3859 (high Nov.11 2011) and then 1.3871 (high Nov.1 2011).