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7 Oct 2013
EUR/USD erases daily gains
FXstreet.com (Córdoba) - The EUR/USD lost momentum and eased from daily highs heading into the North American open.
Even though the dollar remains under pressure given the uncertainty over the US budget, the EUR/USD remains constrained in a range as investors refrain from taking big positions. At time of writing, EUR/USD is trading at the 1.3565 area, virtually unchanged since opening, having been rejected from a high of 1.3590.
EUR/USD technical levels
In terms of technical levels, EUR/USD could find immediate resistances at 1.3600, 1.3630 (Oct 4 high) and then 1.3645 (Oct 3 high) en route to 1.3660 (Feb 4 high). On the other hand, supports are now seen at 1.3540 (10-day SMA) and 1.3505 (Oct 2 low) ahead of 1.3465 (20-day SMA).
Even though the dollar remains under pressure given the uncertainty over the US budget, the EUR/USD remains constrained in a range as investors refrain from taking big positions. At time of writing, EUR/USD is trading at the 1.3565 area, virtually unchanged since opening, having been rejected from a high of 1.3590.
EUR/USD technical levels
In terms of technical levels, EUR/USD could find immediate resistances at 1.3600, 1.3630 (Oct 4 high) and then 1.3645 (Oct 3 high) en route to 1.3660 (Feb 4 high). On the other hand, supports are now seen at 1.3540 (10-day SMA) and 1.3505 (Oct 2 low) ahead of 1.3465 (20-day SMA).