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Currency Analyst since 2010

EUR/USD around $1.3570

EUR/USD has been trading sideways today with a slight upwards bias. The single currency’s supported as there is no progress with the US fiscal impasse, while the deadline for the debt-ceiling is looming. In addition, the ECB’s tone last week was less dovish than expected. Note that demand for safe havens will increase as long as American impasse persists, though the general opinion is that in the last minutes a solution will be found.  

The euro area will release today some data of the minor importance like Sentix investor confidence at 08:30 GMT (forecast: 10.9; previous: 6.5) and the revised GDP (no 4revisions expected; +0.3%) at 09:00 GMT. In US calendar there’s only consumer credit at 19:00 GMT. The market players will be watching news headlines.

Resistance lies at $1.3575, $1.3600, $1.3630, $1.3646, $1.3660. Support is at $1.3550, $1.3515, $1.3505/00.

Chart. H4 EUR/USD

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