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22 Oct 2013
EUR/USD anchored to 1.3670
FXstreet.com (Edinburgh) -The single currency is locked within a narrow range on Tuesday, with the EUR/USD navigating the area of 1.3660/70 ahead of September’s Payrolls due later.
EUR/USD focus on US docket
There are no scheduled releases in Euroland today, with only 3m and 9m auctions of Letras in Spain and a10-year bond auction in France. All the attention will be across the pond where Non-farm Payrolls for the moth of September are due. Prior surveys expect the US economy to have created 180K jobs and the unemployment rate to stay put at 7.3%. Analysts at TD Securities suggested, “a break above 1.37 is a matter of time. And, have traded 1.27/1.37 over the past year, the technical implication of a sustained push through 1.3710 would be an extension towards the 1.46/1.47 area over the next 6-12 months”.
EUR/USD technical levels
The pair is now losing 0.10% at 1.3666 and a breakdown of 1.3615 (38.2% of 1.3472-1.3704) would open the door to 1.3600 (psychological level) and finally 1.3582 (MA10d). On the upside, the next resistance aligns at 1.3708 (high Oct.18) followed by 1.3711 (2013 high Feb.1) and then 1.3800 (psychological level).
EUR/USD focus on US docket
There are no scheduled releases in Euroland today, with only 3m and 9m auctions of Letras in Spain and a10-year bond auction in France. All the attention will be across the pond where Non-farm Payrolls for the moth of September are due. Prior surveys expect the US economy to have created 180K jobs and the unemployment rate to stay put at 7.3%. Analysts at TD Securities suggested, “a break above 1.37 is a matter of time. And, have traded 1.27/1.37 over the past year, the technical implication of a sustained push through 1.3710 would be an extension towards the 1.46/1.47 area over the next 6-12 months”.
EUR/USD technical levels
The pair is now losing 0.10% at 1.3666 and a breakdown of 1.3615 (38.2% of 1.3472-1.3704) would open the door to 1.3600 (psychological level) and finally 1.3582 (MA10d). On the upside, the next resistance aligns at 1.3708 (high Oct.18) followed by 1.3711 (2013 high Feb.1) and then 1.3800 (psychological level).