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Aug 29, 2014
EUR/USD apathetic post-US data
FXStreet (Edinburgh) - The shared currency practically stayed put in the wake of today’s US docket, with the EUR/USD keeps hovering over the 1.3180/85 area.
EUR/USD limited by 1.3200
Spot remains confined to the upper 1.3100s despite data releases in the US came in on a softer tone overall. In fact, both Personal Spending and Personal Income disappointed expectations in July, contracting 0.1% and gaining 0.2%, respectively. Consumer prices measured by the Personal Consumption Expenditure (PCE) – the Fed’s favourite gauge – remained unchanged at 1.6% on a year to July, while Core PCE rose 1.5% vs. 1.6% previous. All in all, the EUR is closing another dreadful week, trading in levels last seen in early September 2013 ahead of the key ECB meeting due next week.
EUR/USD levels to watch
The pair is now flat at 1.3180 with the next resistance at 1.3222 (high Aug.28) ahead of 1.3297 (high Aug.22) and then 1.3316 (210-d MA). On the downside, a breach of 1.3152 (low Aug.27) would target 1.3105 (low Sep.6 2013) en route to 1.3089 (low Jul.19 2013).
EUR/USD limited by 1.3200
Spot remains confined to the upper 1.3100s despite data releases in the US came in on a softer tone overall. In fact, both Personal Spending and Personal Income disappointed expectations in July, contracting 0.1% and gaining 0.2%, respectively. Consumer prices measured by the Personal Consumption Expenditure (PCE) – the Fed’s favourite gauge – remained unchanged at 1.6% on a year to July, while Core PCE rose 1.5% vs. 1.6% previous. All in all, the EUR is closing another dreadful week, trading in levels last seen in early September 2013 ahead of the key ECB meeting due next week.
EUR/USD levels to watch
The pair is now flat at 1.3180 with the next resistance at 1.3222 (high Aug.28) ahead of 1.3297 (high Aug.22) and then 1.3316 (210-d MA). On the downside, a breach of 1.3152 (low Aug.27) would target 1.3105 (low Sep.6 2013) en route to 1.3089 (low Jul.19 2013).