21 Aug 2013
EUR/USD slips below 1.3400
FXstreet.com (Edinburgh) -The EUR/USD is now easing some ground below the 1.3400 handle on Wednesday, as selling interest continues to prevail amongst investors.
EUR/USD faces fireworks
“Today’s main event will be the release of the FOMC minutes from the July meeting. The report might not trigger any significant moves in EUR/USD, as the QE tapering in itself is not enough to start a bigger dollar appreciation, which - in our view - will require support from relative rates stemming from a steepening of the US money market curve”, commented Morten Helt, Senior Analyst at Danske Bank. It seems that a cautious tone amongst traders is prevailing in the markets ahead of the event this evening, with the pair losing the grip and re-visiting the area of 1.3390/85.
EUR/USD relevant levels
The pair is now losing 0.20% at 1.3391 with the next support at 1.3338 (MA10d) ahead of 1.3323 (low Aug.20) and then 1.3314 (low Aug.19). On the flip side, a break above 1.3453 (high Aug.20) would open the door to 1.3456 (high Feb.14) and finally 1.3481 (76.4% of 1.3711-1.2740).
EUR/USD faces fireworks
“Today’s main event will be the release of the FOMC minutes from the July meeting. The report might not trigger any significant moves in EUR/USD, as the QE tapering in itself is not enough to start a bigger dollar appreciation, which - in our view - will require support from relative rates stemming from a steepening of the US money market curve”, commented Morten Helt, Senior Analyst at Danske Bank. It seems that a cautious tone amongst traders is prevailing in the markets ahead of the event this evening, with the pair losing the grip and re-visiting the area of 1.3390/85.
EUR/USD relevant levels
The pair is now losing 0.20% at 1.3391 with the next support at 1.3338 (MA10d) ahead of 1.3323 (low Aug.20) and then 1.3314 (low Aug.19). On the flip side, a break above 1.3453 (high Aug.20) would open the door to 1.3456 (high Feb.14) and finally 1.3481 (76.4% of 1.3711-1.2740).