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20 Dec 2013
EUR/USD supported into European open
FXstreet.com (Barcelona) - During an uneventful overnight session saw EUR/USD find support at 1.3625, before edging higher to where we are presently trading at 1.3638.
EUR/USD unmoved by German Consumer Confidence
The German Gfk Consumer Confidence Survey registered this morning at 7.6 ahead of forecasts of 7.4. Elsewhere German PPI registered in line with expectations at -0.1% MoM and -0.8% YoY. The French business climate climbed to 100 from 99 expected while Italian Industrial Orders and Sales softened, and the Greek Current Account declined. Ahead we have UK GDP which has the potential to cause some cross pair volatility, before Italian Retail Sales to wrap up the mornings, and weekly docket. Later today, US GDP falls at 13:30 GMT, before Yellen’s nomination vote for the seat of Fed Chair.
What are today’s key EUR/USD technicals?
The daily pivot point is found at 1.3670, doubling up as next resistance, with immediate support below at 1.3635 (S1). The December 6 low at 1.3620 offers support, with sovereign bids reported in the region. Bids are reported between there and the psychological 1.3600 level with stops below. To the upside, resistance can be found at offers in front of the psychological 1.3700 mark, which is close to the December 19 high at 1.3694.
EUR/USD unmoved by German Consumer Confidence
The German Gfk Consumer Confidence Survey registered this morning at 7.6 ahead of forecasts of 7.4. Elsewhere German PPI registered in line with expectations at -0.1% MoM and -0.8% YoY. The French business climate climbed to 100 from 99 expected while Italian Industrial Orders and Sales softened, and the Greek Current Account declined. Ahead we have UK GDP which has the potential to cause some cross pair volatility, before Italian Retail Sales to wrap up the mornings, and weekly docket. Later today, US GDP falls at 13:30 GMT, before Yellen’s nomination vote for the seat of Fed Chair.
What are today’s key EUR/USD technicals?
The daily pivot point is found at 1.3670, doubling up as next resistance, with immediate support below at 1.3635 (S1). The December 6 low at 1.3620 offers support, with sovereign bids reported in the region. Bids are reported between there and the psychological 1.3600 level with stops below. To the upside, resistance can be found at offers in front of the psychological 1.3700 mark, which is close to the December 19 high at 1.3694.