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19 Aug 2013
EUR/USD stabilizing around 1.3350
FXstreet.com (Edinburgh) - The lull surrounding the EUR/USD is now reflecting the utter absence of news and events in the euro area and US economy, with the pair meandering around the mid 1.3300s.
EUR/USD looks to Jackson Hole, FOMC
Ahead in the week the FOMC minutes and the Jackson Hole Symposium will grab all the investors’ attention along with the flash manufacturing and services PMI prints in the 17-nation bloc, looking to extend the cyclical improvement from the last periods. G.Moore and S.Osborne, FX Strategists at TD Securities, commented “For Jackson Hole, many of the key players will not be in attendance (Bernanke, Draghi, and Carney all sent their regrets), but there is nevertheless still the potential for some market-moving comments from the conference—perhaps an opportunity for policymakers to push back on the move higher in rates”.
EUR/USD levels to watch
As of writing the pair is up 0.10% at 1.3348 and a breakout of 1.3401 (high Aug.8) would target 1.3417 (high Jun.19) en route to 1.3456 (high Feb.14). On the downside, support levels align at 1.3261 (low Aug.19) followed by 1.3222 (weekly cloud top) and finally 1.3212 MA30d).
EUR/USD looks to Jackson Hole, FOMC
Ahead in the week the FOMC minutes and the Jackson Hole Symposium will grab all the investors’ attention along with the flash manufacturing and services PMI prints in the 17-nation bloc, looking to extend the cyclical improvement from the last periods. G.Moore and S.Osborne, FX Strategists at TD Securities, commented “For Jackson Hole, many of the key players will not be in attendance (Bernanke, Draghi, and Carney all sent their regrets), but there is nevertheless still the potential for some market-moving comments from the conference—perhaps an opportunity for policymakers to push back on the move higher in rates”.
EUR/USD levels to watch
As of writing the pair is up 0.10% at 1.3348 and a breakout of 1.3401 (high Aug.8) would target 1.3417 (high Jun.19) en route to 1.3456 (high Feb.14). On the downside, support levels align at 1.3261 (low Aug.19) followed by 1.3222 (weekly cloud top) and finally 1.3212 MA30d).