25 Jul 2014
EUR/USD consolidating in end of week lows
FXStreet (Guatemala) - EUR/USD is trading at 1.3430, down -0.24% on the day, having posted a daily high at 1.3477 and low at 1.3421.
EUR/USD has found support on the lows here and is edging back up away from them. Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank noted that today’s weak German IFO, coming in below expectations and the June data, warns of fading confidence. “However it is next week’s flash CPI, expected to be stable at 0.5% on headline and 0.8% on core, which is critical to evaluating the path of ECB policy and EUR. We hold a Q314 target of 1.34 and a year-end target of 1.30; expecting EUR to leak slowly lower from here."
EUR/USD Levels
With spot trading at 1.3431, we can see next resistance ahead at 1.3438 (Yesterday's Low), 1.3447 (Hourly 20 EMA), 1.3462 (Weekly Classic S1). Support below can be found at 1.3421 (Daily Low), 1.3414 (Daily Classic S2), 1.3401 (Weekly Classic S2), 1.3391 (Daily Classic S3) and 1.3311 (Weekly Classic S3).
EUR/USD has found support on the lows here and is edging back up away from them. Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank noted that today’s weak German IFO, coming in below expectations and the June data, warns of fading confidence. “However it is next week’s flash CPI, expected to be stable at 0.5% on headline and 0.8% on core, which is critical to evaluating the path of ECB policy and EUR. We hold a Q314 target of 1.34 and a year-end target of 1.30; expecting EUR to leak slowly lower from here."
EUR/USD Levels
With spot trading at 1.3431, we can see next resistance ahead at 1.3438 (Yesterday's Low), 1.3447 (Hourly 20 EMA), 1.3462 (Weekly Classic S1). Support below can be found at 1.3421 (Daily Low), 1.3414 (Daily Classic S2), 1.3401 (Weekly Classic S2), 1.3391 (Daily Classic S3) and 1.3311 (Weekly Classic S3).