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1 Oct 2013
EUR/USD still wavering around 1.3550
FXstreet.com (Córdoba) - The EUR/USD continues to waver above 1.3500 Tuesday as the kneejerk reaction of reaction to the US shutdown faded, giving the greenback some respite.
Risk aversion receded a tad following a positive opening in Wall Street and in-line-with-expectations Markit manufacturing PMI. EUR/USD is currently trading at the 1.3550 area, up 0.2% on the day, as the most recent correction was contained by the 1.3535 zone.
EUR/USD technical outlook
From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com, notes that the pair holds a pretty positive tone with the 20-hour SMA offering short term support around 1.3535. However, Bednarik notes that the EUR/USD presents a more neutral stance in 4-hour charts. "The upside is favored towards 1.3610/20 area in the short term, and eyeing 1.3710 for the upcoming sessions", the analyst said.
Risk aversion receded a tad following a positive opening in Wall Street and in-line-with-expectations Markit manufacturing PMI. EUR/USD is currently trading at the 1.3550 area, up 0.2% on the day, as the most recent correction was contained by the 1.3535 zone.
EUR/USD technical outlook
From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com, notes that the pair holds a pretty positive tone with the 20-hour SMA offering short term support around 1.3535. However, Bednarik notes that the EUR/USD presents a more neutral stance in 4-hour charts. "The upside is favored towards 1.3610/20 area in the short term, and eyeing 1.3710 for the upcoming sessions", the analyst said.