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17 Jul 2013
EUR/USD muted on Beige Book
FXstreet.com (Barcelona) -The shared currency remains apathetic after the Fed released the Beige Book, with the EUR/USD gyrating around 1.3140/45.
EUR/USD looking to stabilize at current levels
No room for surprises from the Beige Book, as the Fed argued that the economy grew at a modest to moderate pace. In the wake of Bernanke’s testimony at Capitol Hill, the Financial Markets Research at Rabobank commented “If we see strong economic data in the next two months, the FOMC is likely to taper in September. However, we have some doubts about the strength in recent data”.
EUR/USD levels to watch
The pair is now losing 0.18% at 1.3137 with the next support at 1.3122 (MA30d) ahead of 1.3100 (psychological level) and finally 1.3078 (MA200d). On the upside, a break above 1.3174 (high Jul.16) would clear the way to 1.3208 (high Jul.11) and then 1.3255 (high Jun.21).
EUR/USD looking to stabilize at current levels
No room for surprises from the Beige Book, as the Fed argued that the economy grew at a modest to moderate pace. In the wake of Bernanke’s testimony at Capitol Hill, the Financial Markets Research at Rabobank commented “If we see strong economic data in the next two months, the FOMC is likely to taper in September. However, we have some doubts about the strength in recent data”.
EUR/USD levels to watch
The pair is now losing 0.18% at 1.3137 with the next support at 1.3122 (MA30d) ahead of 1.3100 (psychological level) and finally 1.3078 (MA200d). On the upside, a break above 1.3174 (high Jul.16) would clear the way to 1.3208 (high Jul.11) and then 1.3255 (high Jun.21).