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6 Sep 2013
Sup‐ port lies at 1.3099 the 50% Fibo level of the April to Augustrally;resistance lies at the 100‐day at 1.3139 followed by 1.3200
FXstreet.com (Edinburgh) -The shared currency keeps the bull run alive on Friday, despite the EUR/USD being unable to follow through the 1.3180 level so far.
EUR/USD bolstered by US data
The pair is now confirming its strong rebound from lows in the vicinity of 1.3100 the figure to 1.3190 post-NFP, after Payrolls disappointed investors in August adding 169K jobs vs. 180K expected. There are still echoes from the ECB meeting. According to Camilla Sutton, Chief Strategist at Scotiabank, “we expect the ECB to remain dovish for far longer than the US and that this helps to drive a weak EUR. We hold a year-end 1.25 target”. The expert also noted that the technical studies remains bearish in the short-term, adding, “Support lies at 1.3099 the 50% Fibo level of the April to August rally; resistance lies at the 100-day at 1.3139 followed by 1.3200”.
EUR/USD key levels
At the moment the pair is advancing 0.32% at 1.3163 with the next resistance at 1.3189 (high Sep.6) followed by 1.3223 (high Sep.5) and finally 1.3237 (high Sep.2). On the flip side, a breakdown of 1.3104 (50% of 1.2755-1.3453) would open the door to 1.3089 (low Jul.19) and then 1.3051 (low Jul.16).
EUR/USD bolstered by US data
The pair is now confirming its strong rebound from lows in the vicinity of 1.3100 the figure to 1.3190 post-NFP, after Payrolls disappointed investors in August adding 169K jobs vs. 180K expected. There are still echoes from the ECB meeting. According to Camilla Sutton, Chief Strategist at Scotiabank, “we expect the ECB to remain dovish for far longer than the US and that this helps to drive a weak EUR. We hold a year-end 1.25 target”. The expert also noted that the technical studies remains bearish in the short-term, adding, “Support lies at 1.3099 the 50% Fibo level of the April to August rally; resistance lies at the 100-day at 1.3139 followed by 1.3200”.
EUR/USD key levels
At the moment the pair is advancing 0.32% at 1.3163 with the next resistance at 1.3189 (high Sep.6) followed by 1.3223 (high Sep.5) and finally 1.3237 (high Sep.2). On the flip side, a breakdown of 1.3104 (50% of 1.2755-1.3453) would open the door to 1.3089 (low Jul.19) and then 1.3051 (low Jul.16).