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1 Oct 2013
EUR/USD keeps correcting sub-1.3550
FXstreet.com (Edinburgh) -The shared currency is extending its intraday correction from session highs, pushing the EUR/USD to the region of 1.3545/40 on Tuesday.
EUR/USD boosted by US shutdown
The pair rapidly climbed to fresh 8-month highs in levels shy of 1.3600 the figure in the aftermath of the US Government shutdown during the European morning, although the abrupt upside lost vigour afterwards. In light of tomorrow’s ECB gathering and according to Shaun Osborne and Greg Moore, FX Strategists at TD Securities, “If volatility remains contained and the ECB leans dovish, EUR/USD will struggle to sustain this morning’s pop to the upper 1.35s and should pressure support in the low/mid 1.34s this week”.
EUR/USD critical levels
As of writing the pair is up 0.12% at 1.3543 and a break above 1.3598 (high Feb.5). On the flip side, a breakdown of 1.3467 (low Sep.30) would expose 1.3462 (low Sep.25) and finally 1.3459 (23.6% of 1.3104-1.3569).
EUR/USD boosted by US shutdown
The pair rapidly climbed to fresh 8-month highs in levels shy of 1.3600 the figure in the aftermath of the US Government shutdown during the European morning, although the abrupt upside lost vigour afterwards. In light of tomorrow’s ECB gathering and according to Shaun Osborne and Greg Moore, FX Strategists at TD Securities, “If volatility remains contained and the ECB leans dovish, EUR/USD will struggle to sustain this morning’s pop to the upper 1.35s and should pressure support in the low/mid 1.34s this week”.
EUR/USD critical levels
As of writing the pair is up 0.12% at 1.3543 and a break above 1.3598 (high Feb.5). On the flip side, a breakdown of 1.3467 (low Sep.30) would expose 1.3462 (low Sep.25) and finally 1.3459 (23.6% of 1.3104-1.3569).