EUR/USD muted at 1.3470 post-Gfk The single currency remained almost indifferent after the Gfk Survey in Germany, with the EUR/USD keeping the area of 1.3470/75. EUR/USD focus on US data The German Consumer Confidence gauged by the Gfk Survey improved to 7.1 for the month of October, exceeding both expectations and September’s print at 7.0. Next on tap in the euro area will be a measure of Business Climate in France preceding Italian Consumer Confidence. However, the pair would remain range-bound ahead of the more relevant data in the US economy from Durable Goods Orders and New Home Sales. EUR/USD key levels At the moment the pair is losing 0.01% at 1.3472 and a breakdown of 1.3453 (high Aug.20) would target 1.3399 (high Aug.28) en route to 1.3385 (high sep.16). On the other hand, the initial hurdle aligns at 1.3525 (hourly cloud top) followed by 1.3555 (high Sep.23) and finally 1.3569 (high Sep.19).
Posted on: Thu, 26 Sep 2013 03:21:42 +0000
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