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7 Oct 2013
EUR/USD wavers amid debt-deal rumors
FXstreet.com (Córdoba) - The EUR/USD fell to fresh daily lows as the greenback strengthened across the board amid rumors of a 6-month debt deal in the US.
The EUR/USD fell to a low of 1.3542 also weighed by Germany's IFO painting a weak inflation picture for the next three quarters. However, the downward attempt was contained by the 200-hour SMA and the pair has bounced back to the 1.3560 zone, where it is virtually unchanged since opening.
EUR/USD technical outlook
"Technically, the EUR/USD hourly chart shows price struggling around its 20 SMA, as indicators head lower around their midlines, leaving also no room for recoveries", said Valeria Bednarik, chief analyst at FXstreet.com. "In the 4 hours chart technical readings are mostly neutral, although with a slightly bearish tone, which suggest a test of Friday low of 1.3535 in the short term".
Bednarik sees immediate support levels at 1.3535, 1.3490 and 1.3460, while she places resistances at 1.3575, 1.3620 and 1.3660.
The EUR/USD fell to a low of 1.3542 also weighed by Germany's IFO painting a weak inflation picture for the next three quarters. However, the downward attempt was contained by the 200-hour SMA and the pair has bounced back to the 1.3560 zone, where it is virtually unchanged since opening.
EUR/USD technical outlook
"Technically, the EUR/USD hourly chart shows price struggling around its 20 SMA, as indicators head lower around their midlines, leaving also no room for recoveries", said Valeria Bednarik, chief analyst at FXstreet.com. "In the 4 hours chart technical readings are mostly neutral, although with a slightly bearish tone, which suggest a test of Friday low of 1.3535 in the short term".
Bednarik sees immediate support levels at 1.3535, 1.3490 and 1.3460, while she places resistances at 1.3575, 1.3620 and 1.3660.