3 Feb 2014
EUR/USD attempting the upside resistance
FXStreet (Guatemala) - EUR/USD found support ahead of the 1.3500 handle and is reaching the top of the range for today, 1.3535.
EUR/JPY is holding the pair up on risk aversion, while from the calendar the pair is suffering from Italian January Markit PMI 53.10 versus expected 53.50 and benefitting from French January Markit PMI 49.30 versus 48.80 expected. German final January manufacturing PMI read 56.60 while the EZ area’s January Markit PMI read 54.00 versus median forecast 53.90. From the US, first, we had US Markit PMI where markets were expecting 53.9. The figure came in at 53.7 in January from 55.0 in December with little market reaction there. Then the US ISM Manufacturing PMI is down to 51.3 in January from 57 in December. Into Asia, we will see whether the ECB and US moving in different directions will continue to cap the pair here ahead of 1.3603 key resistance.
EUR/USD Levels
The 20 DMA is 1.3614, the 50 DMA is 1.3648 and the 200 DMA is 1.3373. RSI (14) reads 57.80. Supports are ascending from 1.3390, 1.3417, 1.3436, 1.3452 and 1.3486. Spot is 1.3530 while resistance is currently 1.3589,1.3603 and 1.3616.
EUR/JPY is holding the pair up on risk aversion, while from the calendar the pair is suffering from Italian January Markit PMI 53.10 versus expected 53.50 and benefitting from French January Markit PMI 49.30 versus 48.80 expected. German final January manufacturing PMI read 56.60 while the EZ area’s January Markit PMI read 54.00 versus median forecast 53.90. From the US, first, we had US Markit PMI where markets were expecting 53.9. The figure came in at 53.7 in January from 55.0 in December with little market reaction there. Then the US ISM Manufacturing PMI is down to 51.3 in January from 57 in December. Into Asia, we will see whether the ECB and US moving in different directions will continue to cap the pair here ahead of 1.3603 key resistance.
EUR/USD Levels
The 20 DMA is 1.3614, the 50 DMA is 1.3648 and the 200 DMA is 1.3373. RSI (14) reads 57.80. Supports are ascending from 1.3390, 1.3417, 1.3436, 1.3452 and 1.3486. Spot is 1.3530 while resistance is currently 1.3589,1.3603 and 1.3616.