EURUSD rose yesterday and closed at 1.3524. The German Retail Sales dropped 0.5 percent month over month in August. The Consumer Price Index year over year in the Eurozone dropped to a reading of 1.1 percent on an annual basis in September. Fitch Ratings warned that Italy’s credit rating could be at risk. On the other side of the ocean the United States President Barack Obama urged the Republicans to back away from their plan of rejecting the latest US House proposal to delay Obama care law with no success pushing the pair higher during the Asian session. For a first time since 1996 the United States Government got partially shut down. A release today showed that the German Unemployment Rate rose unexpectedly in August. Support for the EURUSD is seen at 1.3517 and resistance is seen at 1.3585. The HotForex Traders Board shows that 73 percent of the traders are short on the EURUSD.
GBPUSD
The Cable rose yesterday and closed at 1.6185. In a release today the Manufacturing Purchasing Managers Index in the United Kingdom dropped to a reading of 56.7 in September. The pair pushed higher during the Asian session and touched the 1.6250 level after the US Government got partially shut down after the Republicans denied the Obama care plan. Support for the GBPUSD is seen at 1.6133 and resistance is seen at 1.6250. The HotForex Traders Board shows that 77 percent of the traders are short on the GBPUSD.
EURUSD trading higher after the US Government got partially shut down for a first time since 1996
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