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6 Feb 2013
Forex: EUR/USD holds at 1.3520 despite pressure
The EUR/USD has been easing again today, since the Asian session, from just below the 1.3600 mark, and sharpened the fall on European money flows down to 1.3514 low. However, the area surrounding 1.3520 has been holding the pair against more downside. Thar market trades at 1.3530 (-0.40%) as of writing.
Investors will be eyeing German Factory Orders. Consensus points to a 0.9% rise in December, but an annualized drop from -1.0% to -1.2%.
While below the 1.3600 mark, “the downside will remain vulnerable, with immediate support at 1.3500 and risk seen on a break here to expose 1.3458, below which would complete the failure swing and open way for deeper pullback”, wrote Windsor Brokers analyst Slobodan Drvenica.
Investors will be eyeing German Factory Orders. Consensus points to a 0.9% rise in December, but an annualized drop from -1.0% to -1.2%.
While below the 1.3600 mark, “the downside will remain vulnerable, with immediate support at 1.3500 and risk seen on a break here to expose 1.3458, below which would complete the failure swing and open way for deeper pullback”, wrote Windsor Brokers analyst Slobodan Drvenica.