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Currency Analyst since 2010

EUR/USD: news from the battlefield

EUR/USD continues its consolidation in the $1.3400/3320 area. Today euro is trading a bit on the downside, in the $1.3370/80 area.

GfK German consumer climate came lower than expected. The ECB board member Asmussen reiterated that interest rates should stay low levels for an extended period of time. Still the bulls hold the important $1.3375 area (200-week MA). The euro zone’s M3 money supply was above forecast, while private loans and Italian retail sales contracted. The US will release pending home sales at 14:00 GMT.

Support: $1.3375, $1.3350, $1.3320, $1.3300.

Resistance: $1.3400/10, $1.3427, $1.3452, $1.3485, $1.3500.

Chart. H4 EUR/USD

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