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9 Sep 2013
EUR/USD eyes 1.3200 on better sentiment
FXstreet.com (Edinburgh) -The EUR/USD is now flirting with the key resistance at 1.3200 after the Sentix index exceeded expectations in August.
EUR/USD momentum accelerates
Investors’ Confidence tracked by the Sentix index surged to over 2-year highs during August, returning to the positive ground after printing 6.5, surpassing forecasts at -2.9 and July’s -4.9. There are no more events in the euro area now, with the US Consumer Credit Change next on tap across the pond. Analyst Sverre Holbek at Danske Bank assessed, “The weaker-than-expected non-farm payrolls report gave a bit of support to EUR/USD as it kick-started speculation whether the Fed might wait until October before it starts tapering. However, it should not question that the Fed will start tapering. Hence, we doubt this will be the start of a new trend higher in the cross”.
EUR/USD key levels
As of writing the pair is advancing 0.11% at 1.3194 facing the next hurdle at 1.3223 (high Sep.5) followed by 1.3224 (MA10d) and then 1.3237 (high Sep.2). On the flip side, a breach of 1.3157 (low Sep.9) would open the door to 1.3104 (50% of 1.2755-1.3453) and finally 1.3089 (low Jul.19).
EUR/USD momentum accelerates
Investors’ Confidence tracked by the Sentix index surged to over 2-year highs during August, returning to the positive ground after printing 6.5, surpassing forecasts at -2.9 and July’s -4.9. There are no more events in the euro area now, with the US Consumer Credit Change next on tap across the pond. Analyst Sverre Holbek at Danske Bank assessed, “The weaker-than-expected non-farm payrolls report gave a bit of support to EUR/USD as it kick-started speculation whether the Fed might wait until October before it starts tapering. However, it should not question that the Fed will start tapering. Hence, we doubt this will be the start of a new trend higher in the cross”.
EUR/USD key levels
As of writing the pair is advancing 0.11% at 1.3194 facing the next hurdle at 1.3223 (high Sep.5) followed by 1.3224 (MA10d) and then 1.3237 (high Sep.2). On the flip side, a breach of 1.3157 (low Sep.9) would open the door to 1.3104 (50% of 1.2755-1.3453) and finally 1.3089 (low Jul.19).