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17 Sep 2013
EUR/USD under mild pressure
FXstreet.com (Córdoba) - After failing to overcome the 1.3370 area, EUR/USD came under mild pressure and trimmed daily gains at the beginning of the American session, although it remains well within its recent range.
EUR/USD remains capped by 1.3370
Even though EUR/USD was boosted by better-than-expected ZEW German data, the euphoria quickly faded. EUR/USD retreated to the 1.3340 area before finding support and it was last around 1.3350, still up 0.1% on the day. Neither US CPI nor the NAHB housing market index had much impact on the pair as investors refrain from taking big positions ahead of the conclusion of the 2-day Fed policy meeting.
EUR/USD holds the bullish bias
From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com notes that the pair maintains the bullish bias, but adds that only strong accelerations above 1.3385 will expose the 1.3450 area.
Bednarik locates next resistances at 1.3385, 1.3420 and 1.3450, while she sees supports at 1.3320, 1.3285 and 1.3240.
EUR/USD remains capped by 1.3370
Even though EUR/USD was boosted by better-than-expected ZEW German data, the euphoria quickly faded. EUR/USD retreated to the 1.3340 area before finding support and it was last around 1.3350, still up 0.1% on the day. Neither US CPI nor the NAHB housing market index had much impact on the pair as investors refrain from taking big positions ahead of the conclusion of the 2-day Fed policy meeting.
EUR/USD holds the bullish bias
From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com notes that the pair maintains the bullish bias, but adds that only strong accelerations above 1.3385 will expose the 1.3450 area.
Bednarik locates next resistances at 1.3385, 1.3420 and 1.3450, while she sees supports at 1.3320, 1.3285 and 1.3240.