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22 Nov 2013
EUR/USD tests highs ahead of German data
FXstreet.com (Edinburgh) - The bloc currency keeps the top band of the recent range, taking the EUR/USD to the area of 1.3475/80, down from tops near 1.3490 overnight.
EUR/USD ready for 1.3500?
The pair would have the chance to escalate further during the European morning, as German final GDP figures for the third quarter are due, with consensus pointing to an expansion of 0.3% QoQ and 0.6% YoY. More relevant will be the IFO series, where prior surveys expect improvements in all of it components. Italian Retail Sales are also due ahead of a speech by ECB’s Mario Draghi. There are no data across the pond, with only the speech of Fed’s George of note.
EUR/USD levels to watch
The pair is now up 0.09% at 1.3482 with the next resistance at 1.3546 (MA21d) ahead of 1.3584 (high Nov.20) and finally 1.3589 (high Nov.1). On the flip side, a breakdown of 1.3460 (MA10d) would open the door to 1.3399 (low Nov.21) and then 1.3393 (daily cloud base).
EUR/USD ready for 1.3500?
The pair would have the chance to escalate further during the European morning, as German final GDP figures for the third quarter are due, with consensus pointing to an expansion of 0.3% QoQ and 0.6% YoY. More relevant will be the IFO series, where prior surveys expect improvements in all of it components. Italian Retail Sales are also due ahead of a speech by ECB’s Mario Draghi. There are no data across the pond, with only the speech of Fed’s George of note.
EUR/USD levels to watch
The pair is now up 0.09% at 1.3482 with the next resistance at 1.3546 (MA21d) ahead of 1.3584 (high Nov.20) and finally 1.3589 (high Nov.1). On the flip side, a breakdown of 1.3460 (MA10d) would open the door to 1.3399 (low Nov.21) and then 1.3393 (daily cloud base).