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16 Sep 2013
EURUSD Summers-induced gap higher holding up thus far. EU / US data looms
FXstreet.com (Barcelona) - The EUR/USD was one of many DXY-related pairs to move big on the rampant DXY weakness late Sunday / early Monday. With important data in Europe and the US due out, the question is whether it will hold.
Aside from Fed-related questions, EU and US data could affect trade Monday
There are key questions that must be answered before analysts and traders can responsibly say the withdrawal of Larry Summers from consideration for the Fed Chairmanship. Those questions aside, EUR/USD traders will get to react to EuroZone CPI, the US NY Empire State Manufacturing Index, US Industrial Production and Capacity Utilization – and that is just on Monday. Later in the week, they will also be reacting to US CPI data, the ZEW Economic Survey and the biggie – the FOMC rate decision, commentary and tapering announcement.
Technical outlook for EUR/USD
Technicians say a close in EUR/USD above 1.3319 will lead to a quick test of 1.3400 horizontal line resistance and then the key technical level at the recent top of 1.3451.
Aside from Fed-related questions, EU and US data could affect trade Monday
There are key questions that must be answered before analysts and traders can responsibly say the withdrawal of Larry Summers from consideration for the Fed Chairmanship. Those questions aside, EUR/USD traders will get to react to EuroZone CPI, the US NY Empire State Manufacturing Index, US Industrial Production and Capacity Utilization – and that is just on Monday. Later in the week, they will also be reacting to US CPI data, the ZEW Economic Survey and the biggie – the FOMC rate decision, commentary and tapering announcement.
Technical outlook for EUR/USD
Technicians say a close in EUR/USD above 1.3319 will lead to a quick test of 1.3400 horizontal line resistance and then the key technical level at the recent top of 1.3451.