Back
1 Oct 2013
EUR/USD eyes 1.3550 as shutdown kicks in
FXstreet.com (Edinburgh) -Not much of a reaction in the single currency so far while the US Government enters the first shutdown after 17 years, with the EUR/USD hovering over 1.3535/40 on Tuesday.
EUR/USD focus on US, PMIs
The US Congress failed to struck a deal on a spending bill on Tuesday, paving the way for the start of the first US federal shutdown in almost 20 years. While government agencies get ready to cease operations, the Republican Party has been largely blamed for not passing a budget and focusing on Obamacare instead, triggering the shutdown. Ahead in the day, the final figures of manufacturing PMI prints in the euro area plus German/EMU unemployment rates will be in the spotlight. Across the pond, the gauge of the manufacturing activity sponsored by Markit and the ISM Manufacturing will grab all the attention.
EUR/USD key levels
The pair is now up 0.11% at 1.3542 with the next resistance at 1.3565 (high Sep.27) ahead of 1.3569 (high Sep.19) and then 1.3598 (high Feb.5). On the flip side, a breakdown of 1.3467 (low Sep.30) would expose 1.3462 (low Sep.25) and finally 1.3459 (23.6% of 1.3104-1.3569).
EUR/USD focus on US, PMIs
The US Congress failed to struck a deal on a spending bill on Tuesday, paving the way for the start of the first US federal shutdown in almost 20 years. While government agencies get ready to cease operations, the Republican Party has been largely blamed for not passing a budget and focusing on Obamacare instead, triggering the shutdown. Ahead in the day, the final figures of manufacturing PMI prints in the euro area plus German/EMU unemployment rates will be in the spotlight. Across the pond, the gauge of the manufacturing activity sponsored by Markit and the ISM Manufacturing will grab all the attention.
EUR/USD key levels
The pair is now up 0.11% at 1.3542 with the next resistance at 1.3565 (high Sep.27) ahead of 1.3569 (high Sep.19) and then 1.3598 (high Feb.5). On the flip side, a breakdown of 1.3467 (low Sep.30) would expose 1.3462 (low Sep.25) and finally 1.3459 (23.6% of 1.3104-1.3569).