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17 Jun 2013
EUR/USD in red around 1.3330
FXstreet.com (Edinburgh) - The EUR/USD is trading on the back foot on Monday, hovering over 1.3330 ahead of the trade balance figures in the euro area due later.
EUR/USD under pressure on FOMC
Prior surveys expect the trade deficit to shrink markedly to €13.8 billion in April from €22.9 billion in the previous month. “The FOMC is the focus of the week ahead—we believe Bernanke will signal that the outlook is improving sufficiently to justify consideration of a slowing in the pace of QE later this year”, commented Alvin Pontoh, Macro Strategist at TD Securities.
EUR/USD key levels
At the moment, the pair is retreating 0.14% at 1.3329 and a violation of 1.3266 (low Jun.12) would target 1.3233 (MA10d) en route to 1.3232 (low Jun.11). On the upside, the next hurdle lies at 1.3390 (high Jun.13) followed by 1.3434 (high Feb.20) and then 1.3456 (high Feb.14).
EUR/USD under pressure on FOMC
Prior surveys expect the trade deficit to shrink markedly to €13.8 billion in April from €22.9 billion in the previous month. “The FOMC is the focus of the week ahead—we believe Bernanke will signal that the outlook is improving sufficiently to justify consideration of a slowing in the pace of QE later this year”, commented Alvin Pontoh, Macro Strategist at TD Securities.
EUR/USD key levels
At the moment, the pair is retreating 0.14% at 1.3329 and a violation of 1.3266 (low Jun.12) would target 1.3233 (MA10d) en route to 1.3232 (low Jun.11). On the upside, the next hurdle lies at 1.3390 (high Jun.13) followed by 1.3434 (high Feb.20) and then 1.3456 (high Feb.14).