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1 Nov 2013
EUR/USD extends losses below 1.3500
FXstreet.com (Córdoba) - The EUR/USD moved lower and printed yet new lows after data showed the US ISM manufacturing index grew more than expected in October.
EUR/USD weighed by ECB speculation, US data
The EUR/USD extended its decline into a fifth day Friday and having broken below the 1.3500 mark it recently hit its lowest since Oct 16 at 1.3483. The euro came under renewed pressure amid speculation the ECB could loose its policy further after the Eurozone CPUI came in surprisingly weak yesterday. In the US data front, the ISM manufacturing index rose to 56.4 in October against expectations for a dip to 55.0, which also offered support to the greenback.
EUR/USD levels to watch
At time of writing, EUR/USD is trading at the 1.3490 area, recording a 0.7% fall on the day. In terms of technical levels, immediate supports are seen at 1.3473 (Oct 16 low) and 1.3460 (Sep 25 low). On the other hand, resistances could be found at 1.3590 (daily high) and 1.3645 (20-day SMA).
EUR/USD weighed by ECB speculation, US data
The EUR/USD extended its decline into a fifth day Friday and having broken below the 1.3500 mark it recently hit its lowest since Oct 16 at 1.3483. The euro came under renewed pressure amid speculation the ECB could loose its policy further after the Eurozone CPUI came in surprisingly weak yesterday. In the US data front, the ISM manufacturing index rose to 56.4 in October against expectations for a dip to 55.0, which also offered support to the greenback.
EUR/USD levels to watch
At time of writing, EUR/USD is trading at the 1.3490 area, recording a 0.7% fall on the day. In terms of technical levels, immediate supports are seen at 1.3473 (Oct 16 low) and 1.3460 (Sep 25 low). On the other hand, resistances could be found at 1.3590 (daily high) and 1.3645 (20-day SMA).