EUSUSD rose yesterday and closed at 1.3524. The Gfk German Consumer Climate came out in line with the market expectation at a reading of 7.1 for October. The New Home Sales in the United States rose to a level of 421K. Rumors that the United States Federal Reserve will start cutting its bond-buying program next month kept the losses on the US dollar against the single European currency limited. Due to the lack of releases from the Europe today trading trends on the pair are expected to be determined by the releases from the United States. Investors are looking forward for the Unemployment Claims release and the Pending Home Sales data due from the United States. Support for the EURUSD is seen at 1.3460 and resistance is seen at 1.3566. The HotForex Traders Board shows that 70 percent of the traders are short on the EURUSD.
GBPUSD
The Cable rose yesterday and closed at 1.6078. The Current Account in the United Kingdom widened more than the market expectation in the 2nd quarter of 2013 to -13.0B. The Final GDP remained in line with the market expectation at 0.7 percent. Investors are now waiting for the economic releases due from the United States. Support for the GBPUSD is seen at 1.5960 and resistance is seen at 1.6095. The HotForex Traders Board shows that 72 percent of the traders are short on the GBPUSD.
EURUSD trading near the 1.35 level ahead of the US Unemployment Claims
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