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5 Aug 2013
EUR/USD edging higher though still below 1.3300
FXstreet.com (New York) - The EUR/USD technical pair inched higher during Asian trading Monday, still situated below the 1.3300 barrier thus far as it builds on meager daily gains.
EUR/USD event risk
This week figures to get off to an eventful start with the release of EMU and German Markit PMI, followed by EMU Retail Sales later today. Later this week there will be German Factory Orders (Tuesday), along with the ECB Monthly Report (Thursday).
EUR/USD technical bias
At the time of writing, the EUR/USD is presently operating at 1.3285 Monday. Technically speaking, the EUR/USD remains in fairly good shape above the 200-day SMA, with its ascension being held by resistances at 1.3290 (August 2 high), onto 1.3306 (August 1 high), and finally 1.3384 (July 31 high). Conversely, the pair remains fortified by support at 1.3257 (55-day MA), ahead of 1.3246 (200-day SMA).
EUR/USD event risk
This week figures to get off to an eventful start with the release of EMU and German Markit PMI, followed by EMU Retail Sales later today. Later this week there will be German Factory Orders (Tuesday), along with the ECB Monthly Report (Thursday).
EUR/USD technical bias
At the time of writing, the EUR/USD is presently operating at 1.3285 Monday. Technically speaking, the EUR/USD remains in fairly good shape above the 200-day SMA, with its ascension being held by resistances at 1.3290 (August 2 high), onto 1.3306 (August 1 high), and finally 1.3384 (July 31 high). Conversely, the pair remains fortified by support at 1.3257 (55-day MA), ahead of 1.3246 (200-day SMA).