Currency Analyst since 2010

EUR/USD slid below $1.3180

EUR/USD fell below support at $1.3185/00. The number of unemployed in Spain was pretty much unchanged in August, while analysts expected it to contract by 5.2K. Tomorrow the EU statistics office will probably confirm that GDP expanded by 0.3% in Q2 ending the longest recession on record. US banks open today after a holiday. Watch for ISM manufacturing PMI at 14:00 GMT (forecast: 54.2; previous: 55.4). American releases are more important than ever ahead of the Fed’s meeting next week.

Further support lies at $1.3140/35 (200-, 100-day MAs), $1.3115 and $1.3105 (top of the Cloud, 50% Fibo of the advance from July to August). Resistance is at $1.3200, $1.3255 (Aug. 30 high) and $1.3298 (Aug. 22 low).

Chart. Daily EUR/USD

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