Back
9 Aug 2013
EUR/USD off overnight support, 1.3400 eyed
FXstreet.com (Barcelona) - Having declined off its high since June 19th, EUR/USD found overnight support at 1.3379 as mixed Chinese data eased risk sentiment after the RBA lowered its growth outlook.
EUR/USD unmoved by overnight data
Overnight, the two main stories were the RBA policy statement and the flurry of Chinese data, but neither managed to spark much interest in EUR/USD. In terms of outcomes, the RBA lowered its growth outlook, while YoY Chinese CPI came in at 2.7% against expectations of 2.8%. Industrial Production beat expectations at 9.7%/9.0% while Retail Sales Slumped 13.2%/13.5%. Overnight EUR/USD was unmoved by developments, ranging on support at 1.3380 where iit is currently trading.
EUR/USD Technically bullish
The FXstreet.com Trend Index is showing EUR/USD to be slightly bullish. Looking at daily classic pivot points, support below can be found at the daily pivot at 1.3370, S1 at 1.3295 and S2 at 1.3295. Above, resistance can be found at R1 at 1.3413, R2 at 1.3445 and R3 at 1.3488. Hourly Oscillators have moved off from oversold territory, with Stochastics at 43 and RSI at 67.
EUR/USD unmoved by overnight data
Overnight, the two main stories were the RBA policy statement and the flurry of Chinese data, but neither managed to spark much interest in EUR/USD. In terms of outcomes, the RBA lowered its growth outlook, while YoY Chinese CPI came in at 2.7% against expectations of 2.8%. Industrial Production beat expectations at 9.7%/9.0% while Retail Sales Slumped 13.2%/13.5%. Overnight EUR/USD was unmoved by developments, ranging on support at 1.3380 where iit is currently trading.
EUR/USD Technically bullish
The FXstreet.com Trend Index is showing EUR/USD to be slightly bullish. Looking at daily classic pivot points, support below can be found at the daily pivot at 1.3370, S1 at 1.3295 and S2 at 1.3295. Above, resistance can be found at R1 at 1.3413, R2 at 1.3445 and R3 at 1.3488. Hourly Oscillators have moved off from oversold territory, with Stochastics at 43 and RSI at 67.