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7 Oct 2013
EUR/USD loses momentum ahead of 1.3600
FXstreet.com (Córdoba) - The EUR/USD managed to regain the upside following Friday's downward correction as the greenback remains vulnerable as US budget issues seem far from ending.
EUR/USD fails at 1.3590 and pulls back
The EUR/USD climbed during the European session and printed a daily high of 1.3590, but lacked momentum to make another attempt at 1.3600 and pulled back after the Eurozone Sentix Confidence came in below expectations. At time of writing, EUR/USD is trading at the 1.3575 zone, recording a 0.1% gain so far. With the economic calendar pretty light for the rest of the day, investors will likely to focus on US budget developments.
EUR/USD levels to watch
In terms of technical levels, EUR/USD would need to break above 1.3600 to pave the way towards 1.3630 (Oct 4 high) and then 1.3645 (Oct 3 high) en route to 1.3660 (Feb 4 high). On the other hand, supports are now seen at 1.3540 (10-day SMA) and 1.3505 (Oct 2 low) ahead of 1.3465 (20-day SMA).
EUR/USD fails at 1.3590 and pulls back
The EUR/USD climbed during the European session and printed a daily high of 1.3590, but lacked momentum to make another attempt at 1.3600 and pulled back after the Eurozone Sentix Confidence came in below expectations. At time of writing, EUR/USD is trading at the 1.3575 zone, recording a 0.1% gain so far. With the economic calendar pretty light for the rest of the day, investors will likely to focus on US budget developments.
EUR/USD levels to watch
In terms of technical levels, EUR/USD would need to break above 1.3600 to pave the way towards 1.3630 (Oct 4 high) and then 1.3645 (Oct 3 high) en route to 1.3660 (Feb 4 high). On the other hand, supports are now seen at 1.3540 (10-day SMA) and 1.3505 (Oct 2 low) ahead of 1.3465 (20-day SMA).