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22 Nov 2013
EUR/USD flirting with 1.3490
FXstreet.com (Edinburgh) - The EUR/USD kept the area of session highs around 1.3485/90 on Friday after the GDP figures in the German economy.
EUR/USD remains well bid
The German economy expanded 0.3% inter-quarter during the third quarter and 0.9% over the last twelve months, both prints banging on estimates. The bid tone around the EUR remains intact so far with the more significant IFO indicator coming in next. “Yesterday's break through 1.3485 crucial low signals a reversal at 1.3579 and the outlook is already bearish, for a slide towards 1.3290. Key resistance on the upside is projected around 1.3470-80 area”, observed Stoyan Mihaylov, Strategist at DeltaStock.com.
EUR/USD levels to watch
The pair is now up 0.09% at 1.3482 with the next resistance at 1.3546 (MA21d) ahead of 1.3584 (high Nov.20) and finally 1.3589 (high Nov.1). On the flip side, a breakdown of 1.3460 (MA10d) would open the door to 1.3399 (low Nov.21) and then 1.3393 (daily cloud base).
EUR/USD remains well bid
The German economy expanded 0.3% inter-quarter during the third quarter and 0.9% over the last twelve months, both prints banging on estimates. The bid tone around the EUR remains intact so far with the more significant IFO indicator coming in next. “Yesterday's break through 1.3485 crucial low signals a reversal at 1.3579 and the outlook is already bearish, for a slide towards 1.3290. Key resistance on the upside is projected around 1.3470-80 area”, observed Stoyan Mihaylov, Strategist at DeltaStock.com.
EUR/USD levels to watch
The pair is now up 0.09% at 1.3482 with the next resistance at 1.3546 (MA21d) ahead of 1.3584 (high Nov.20) and finally 1.3589 (high Nov.1). On the flip side, a breakdown of 1.3460 (MA10d) would open the door to 1.3399 (low Nov.21) and then 1.3393 (daily cloud base).