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The shared currency is comfortably trading in a very narrow range so far, taking the EUR/USD to the area of 1.3530 pre-European open on Tuesday.
EUR/USD focus on US docket
Flat calendar in the euro area today, with only a gauge of the Italian Consumer Confidence (97.3 exp.) and Spanish auction of 3m and 9m Letras. Across the pond, key housing data are due: Building Permits, Housing Starts and the S&P/Case Shiller index, all ahead of the Consumer Confidence, with consensus expecting an improvement to 72.9 for November. In the opinion of Jason Sen, Analyst at DayTradeIdeas.com, “Immediate trend line support is 1.3530/20 but below here signals further weakness to 1.3499/95… More chance of a move to the downside this week & perhaps a test of last week's low at 1.3399. Only above 1.3595 is positive this week & can target October highs at 1.3832”.
EUR/USD key levels
The pair is now advancing 0.07% at 1.3529 with the next resistance at 1.3544 (daily cloud top) followed by 1.3561 (high Nov.25) and then 1.3584 (high Nov.20). On the downside, a break below 1.3490 (low Nov.25) would expose 1.3463 (low Nov.22) and then 1.3404 (daily cloud base).
EUR/USD focus on US docket
Flat calendar in the euro area today, with only a gauge of the Italian Consumer Confidence (97.3 exp.) and Spanish auction of 3m and 9m Letras. Across the pond, key housing data are due: Building Permits, Housing Starts and the S&P/Case Shiller index, all ahead of the Consumer Confidence, with consensus expecting an improvement to 72.9 for November. In the opinion of Jason Sen, Analyst at DayTradeIdeas.com, “Immediate trend line support is 1.3530/20 but below here signals further weakness to 1.3499/95… More chance of a move to the downside this week & perhaps a test of last week's low at 1.3399. Only above 1.3595 is positive this week & can target October highs at 1.3832”.
EUR/USD key levels
The pair is now advancing 0.07% at 1.3529 with the next resistance at 1.3544 (daily cloud top) followed by 1.3561 (high Nov.25) and then 1.3584 (high Nov.20). On the downside, a break below 1.3490 (low Nov.25) would expose 1.3463 (low Nov.22) and then 1.3404 (daily cloud base).
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