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28 Nov 2013
EUR/USD back to the 1.3600 area
FXstreet.com (Edinburgh) - The bloc currency has rapidly faded the fresh weekly tops near 1.3620, taking the EUR/USD back to the 1.3595/1.3600 region.
EUR/USD disappointed after German data
The bullish momentum around the EUR seems to have deflated after the unemployment change in Germany increased by 10K in November, exceeding the 3K forecasted and up from October’s 1K increase, while the jobless rate remained unchanged at 6.9%, banging on estimates. Further data from the EMU saw the M3 Money Supply expanding at 1.4% YoY (2.1% exp. and 2.0% prev.) and the Private Loans contracting at an annual rate of 2.1% in October. The positive note came from the improvement in the Italian Business Confidence, up to 98.1 in the current month vs. 97.5 expected.
EUR/USD relevant levels
At the moment the pair is advancing 0.21% at 1.3603 with the next up barrier at 1.3628 (61.8% of 1.3822-1.3295) ahead of 1.3647 (daily cloud top) and then 1.3696 (low Oct.30). On the downside, a dip beyond 1.3564 (low Nov.28) would expose 1.3558 (low Nov.27) and finally 1.3529 (MA21d).
EUR/USD disappointed after German data
The bullish momentum around the EUR seems to have deflated after the unemployment change in Germany increased by 10K in November, exceeding the 3K forecasted and up from October’s 1K increase, while the jobless rate remained unchanged at 6.9%, banging on estimates. Further data from the EMU saw the M3 Money Supply expanding at 1.4% YoY (2.1% exp. and 2.0% prev.) and the Private Loans contracting at an annual rate of 2.1% in October. The positive note came from the improvement in the Italian Business Confidence, up to 98.1 in the current month vs. 97.5 expected.
EUR/USD relevant levels
At the moment the pair is advancing 0.21% at 1.3603 with the next up barrier at 1.3628 (61.8% of 1.3822-1.3295) ahead of 1.3647 (daily cloud top) and then 1.3696 (low Oct.30). On the downside, a dip beyond 1.3564 (low Nov.28) would expose 1.3558 (low Nov.27) and finally 1.3529 (MA21d).