16 Jan 2014
EUR/USD testing the 1.36 handle
FXstreet.com (Guatemala) - EUR/USD is battling with the 1.36 handle while the pair is generally coming with a bearish bias.
There is little left from the calendar this week while earlier we had the data come in the form of Jobless Claims which disappointed for the US, Consumer Prices rising 1.5% and Tic flows $-29.3B coming in line year on year. Karen Jones, chief analyst at Commerzbank explained that EUR/USD is once again sitting right on the cloud support, this is located at 1.3564/1.3602 and they would allow for this to hold the initial test, but look for rebounds to be contained by the 1.3645 region. “We continue to look for the market to come under pressure and look for the cloud support and its 4 month trendline support at 1.3507 to be eroded”.
EUR/USD Levels
The 20 DMA is 1.3676, the 50 DMA is 1.3612 and the 200 DMA is 1.3338. RSI (14) reads 39.31. Supports are ascending from 1.3525, 1.3543,
1.3560, 1.3582. Spot is 1.3600 while resistances are 1.3630, 1.3645, 1.3673 and 1.3705.
There is little left from the calendar this week while earlier we had the data come in the form of Jobless Claims which disappointed for the US, Consumer Prices rising 1.5% and Tic flows $-29.3B coming in line year on year. Karen Jones, chief analyst at Commerzbank explained that EUR/USD is once again sitting right on the cloud support, this is located at 1.3564/1.3602 and they would allow for this to hold the initial test, but look for rebounds to be contained by the 1.3645 region. “We continue to look for the market to come under pressure and look for the cloud support and its 4 month trendline support at 1.3507 to be eroded”.
EUR/USD Levels
The 20 DMA is 1.3676, the 50 DMA is 1.3612 and the 200 DMA is 1.3338. RSI (14) reads 39.31. Supports are ascending from 1.3525, 1.3543,
1.3560, 1.3582. Spot is 1.3600 while resistances are 1.3630, 1.3645, 1.3673 and 1.3705.