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3 Oct 2013
EUR/USD continues to grind higher as DC-induced DXY weakness added on to ECB news
FXstreet.com (Barcelona) - The EUR/USD got a boost from the ECB rate decision mid-session and kept that edge thanks to the ongoing problems in Washington.
Data due out from Europe and US – but traders likely to remain focused on geo-politics
EUR/USD traders have taken the cross to new short-term highs Wednesday on EUR-bullish news and language out of the ECB mid-session and the bickering between Democrats and Republicans that continues to this very minute.
The EUR/USD, in addition to government concerns in the US, will be reacting in varying degrees to European PMI data points, European retail sales, US weekly jobless claims, construction spending and factory orders as well as multiple Fed Head speeches.
Technical outlook for EUR/USD
Technicians say the EURUSD appears to have room up to 1.3681 before any meaningful resistance comes into play. Support for the cross comes in at 1.3500 and then 1.34600.
Data due out from Europe and US – but traders likely to remain focused on geo-politics
EUR/USD traders have taken the cross to new short-term highs Wednesday on EUR-bullish news and language out of the ECB mid-session and the bickering between Democrats and Republicans that continues to this very minute.
The EUR/USD, in addition to government concerns in the US, will be reacting in varying degrees to European PMI data points, European retail sales, US weekly jobless claims, construction spending and factory orders as well as multiple Fed Head speeches.
Technical outlook for EUR/USD
Technicians say the EURUSD appears to have room up to 1.3681 before any meaningful resistance comes into play. Support for the cross comes in at 1.3500 and then 1.34600.