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Euro Slipped After Weak German’s Data

by on October 7, 2014 2:52 pm GMT
 

euro slipped versus the majority of its 16 main peers as German industrial production fell the most since 2009, underscoring the risk of a slowdown that may pressure the European Central Bank to expand stimulus.

The shared currency weakened before a report analysts forecast will show exports from Europe’s largest economy slumped the most in more than five years. The yen strengthened a second day against the U.S. dollar on speculation officials are growing uncomfortable with the pace of its depreciation. Australia’s currency rose after the central bank held interest rates unchanged.

The euro was little changed at $1.2655 at 9:32 a.m. New York time. It slumped 0.6 percent to 136.82 yen. The Japanese currency advanced 0.6 percent to 108.13 per dollar after gaining 0.9 percent yesterday. It reached 110.09 per dollar on Oct. 1, the weakest level in six years.

 

EURUSD Pivot Levels Pivot Woodie Fibonacci
Resistance 3 1.2871 1.2887 1.2773
Resistance 2 1.2773 1.2781 1.2711
Resistance 1 1.2708 1.2724 1.2672
Pivot 1.261 1.2618 1.261
Support 1 1.2545 1.2561 1.2548
Support 2 1.2447 1.2455 1.2509
Support 3 1.2382 1.2398 1.2447