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2 Oct 2013
EUR/USD cautious around 1.3530
FXstreet.com (Edinburgh) -The bloc currency is attempting a bounce pre-ECB against the greenback, lifting the EUR/USD to the area of 1.3540 although failing to follow through so far.
EUR/USD eyes on Italy, US, ECB
The cautious tone remains amongst traders while a confidence vote on the government led by Enrico Letta would look to tackle the renewed political instability brought in (again) by former PM Silvio Berlusconi over the past weekend. In the meantime, hopes that the US federal shutdown could come to an end any time soon were trimmed after US officials stressed that the current situation could remain for two more weeks. Finally, a dovish tone from ECB’s President M.Draghi is expected today in his usual press conference at 1230GMT. According to market consensus, Draghi would try to ‘talk down’ the current high levels of the spot, although no major surprises in terms of measures/announcements are expected.
EUR/USD relevant levels
The pair is now advancing 0.04% at 1.3531 with the next resistance at 1.3598 (high Feb5) followed by 1.3660 (high Feb.4) and finally 1.3711 (2013 high Feb.1). On the downside, a breach of 1.3517 (low Otc.1) would target 1.3500 (psychological level) en route to 1.3467 (low Sep.30).
EUR/USD eyes on Italy, US, ECB
The cautious tone remains amongst traders while a confidence vote on the government led by Enrico Letta would look to tackle the renewed political instability brought in (again) by former PM Silvio Berlusconi over the past weekend. In the meantime, hopes that the US federal shutdown could come to an end any time soon were trimmed after US officials stressed that the current situation could remain for two more weeks. Finally, a dovish tone from ECB’s President M.Draghi is expected today in his usual press conference at 1230GMT. According to market consensus, Draghi would try to ‘talk down’ the current high levels of the spot, although no major surprises in terms of measures/announcements are expected.
EUR/USD relevant levels
The pair is now advancing 0.04% at 1.3531 with the next resistance at 1.3598 (high Feb5) followed by 1.3660 (high Feb.4) and finally 1.3711 (2013 high Feb.1). On the downside, a breach of 1.3517 (low Otc.1) would target 1.3500 (psychological level) en route to 1.3467 (low Sep.30).