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7 Oct 2013
EUR/USD pushing higher to 1.3600
FXstreet.com (Edinburgh) -The upbeat momentum around the shared currency is intensifying on Monday , lifting the EUR/USD to the region of 1.3590, posting fresh intraday highs at the same time.
EUR/USD back to 1.3600?
The upside continues to gather pace despite the EMU’s Investor Confidence gauged by the Sentix index disappointed traders for the month of October, falling to 6.1 vs. 10.6 expected and 6.5 from the previous month. In the view of Jane Foley, Chief Strategist at Rabobank, “There is therefore a chance that EUR/USD could push higher into October even though the ECB would likely then step up its dovish rhetoric. Our central scenario has been one of consolidation for EUR/USD followed by a recovery in the USD towards the 1.3200 by year end”.
EUR/USD key levels
The pair is now advancing 0.21% at 1.3585 with the initial hurdle at 1.3632 (high Oct.4) followed by 1.3646 (high Oct.3) and then 1.3660 (high Feb.4). On the flip side, a violation of 1.3553 (low Oct.7) would target 1.3540 (MA10d) en route to 1.3538 (low Oct.4).
EUR/USD back to 1.3600?
The upside continues to gather pace despite the EMU’s Investor Confidence gauged by the Sentix index disappointed traders for the month of October, falling to 6.1 vs. 10.6 expected and 6.5 from the previous month. In the view of Jane Foley, Chief Strategist at Rabobank, “There is therefore a chance that EUR/USD could push higher into October even though the ECB would likely then step up its dovish rhetoric. Our central scenario has been one of consolidation for EUR/USD followed by a recovery in the USD towards the 1.3200 by year end”.
EUR/USD key levels
The pair is now advancing 0.21% at 1.3585 with the initial hurdle at 1.3632 (high Oct.4) followed by 1.3646 (high Oct.3) and then 1.3660 (high Feb.4). On the flip side, a violation of 1.3553 (low Oct.7) would target 1.3540 (MA10d) en route to 1.3538 (low Oct.4).