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2 Aug 2013
EUR/USD sidelined above 1.3200
FXstreet.com (Edinburgh) -The shared currency keeps the narrow range on Friday, as the EUR/USD is meandering between 1.3200 and levels just above 1.3220.
EUR/USD focus on NFP
The euro remained indifferent to another decrease in the Spanish unemployment during July, although the number was below previous estimates. A cautious tone prevails amongst traders ahead of July US Non farm Payroll due in the European afternoon, with prior surveys expecting the US economy to have created 185K jobs vs. 195K in June. “We therefore also stick to our view that EUR/USD will trend lower in the autumn and we are confident about our 1.28 three month forecast for EUR/USD”, suggested Lars Christensen, Senior Analyst at Danske Bank.
EUR/USD relevant levels
As of writing the pair is up 0.07% at 1.3217 facing the next hurdle at 1.3311 (high Aug.1) ahead of 1.3345 (high Jul.31) and then 1.3417 (high Jun.19). On the downside, a break below 1.3192 (low Aug.1) would target 1.3166 (low Jul.25) en route to 1.3164 (low Jul.23).
EUR/USD focus on NFP
The euro remained indifferent to another decrease in the Spanish unemployment during July, although the number was below previous estimates. A cautious tone prevails amongst traders ahead of July US Non farm Payroll due in the European afternoon, with prior surveys expecting the US economy to have created 185K jobs vs. 195K in June. “We therefore also stick to our view that EUR/USD will trend lower in the autumn and we are confident about our 1.28 three month forecast for EUR/USD”, suggested Lars Christensen, Senior Analyst at Danske Bank.
EUR/USD relevant levels
As of writing the pair is up 0.07% at 1.3217 facing the next hurdle at 1.3311 (high Aug.1) ahead of 1.3345 (high Jul.31) and then 1.3417 (high Jun.19). On the downside, a break below 1.3192 (low Aug.1) would target 1.3166 (low Jul.25) en route to 1.3164 (low Jul.23).