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2 Aug 2013
EUR/USD hovering over 1.3200
FXstreet.com (Edinburgh) -The single currency is prolonging its decline from Wednesday’s peaks around 1.3350, pushing the EUR/USD to challenge the key support at 1.3200 the figure on Friday.
EUR/USD weak ahead of NFP
Solid data from the US manufacturing sector and a multi-year low for Initial Claims plus a neutral to dovish wording from ECB’s Draghi on Thursday were more than enough to accelerate the bearish sentiment around the EUR. In the data front, second-tier docket awaits investors in the euro area, with Spanish unemployment figures and 10-year Obligaciones auction, ahead of EMU’s producer prices. Across the Atlantic, the US Non farm Payrolls and jobless rate will be on the limelight.
EUR/USD levels to watch
The pair is now advancing 0.01% at 1.3210 with the next resistance at 1.3311 (high Aug.1) followed by 1.3345 (high Jul.31) and finally 1.3417 (high Jun.19). On the flip side, a breakdown of 1.3207 (low Jul.31) would target 1.3166 (low Jul.25) en route to 1.3164 (low Jul.23).
EUR/USD weak ahead of NFP
Solid data from the US manufacturing sector and a multi-year low for Initial Claims plus a neutral to dovish wording from ECB’s Draghi on Thursday were more than enough to accelerate the bearish sentiment around the EUR. In the data front, second-tier docket awaits investors in the euro area, with Spanish unemployment figures and 10-year Obligaciones auction, ahead of EMU’s producer prices. Across the Atlantic, the US Non farm Payrolls and jobless rate will be on the limelight.
EUR/USD levels to watch
The pair is now advancing 0.01% at 1.3210 with the next resistance at 1.3311 (high Aug.1) followed by 1.3345 (high Jul.31) and finally 1.3417 (high Jun.19). On the flip side, a breakdown of 1.3207 (low Jul.31) would target 1.3166 (low Jul.25) en route to 1.3164 (low Jul.23).