EUR/USD proving 1.32 support strong

FXstreet.com (Barcelona) - The EUR/USD foreign exchange rate is last trading at 1.3210 around session highs, once has bounced from recent fresh session/weekly lows at 1.3189, extending the decline started Thursday following FOMC above 1.3340.

EUR/USD suggests some downside risk

According to Valeria Bednarik, Chief Analyst at Fxstreet.com, “The hourly chart shows an increasing bearish potential as 20 SMA heads south above current price while indicators head lower in negative territory. In the 4 hours chart technical readings are also bearish, suggesting some downside risk for current Asian session, although limited ahead of tomorrow’s’ data.”

EUR/USD key technical levels

Bednarik locates support levels at: 1.3190, 1.3140 and 1.3110; while resistance levels at: 1.3225, 1.3260 and 1.3295.

Aug 2, 2013

Flash: Today's NFP, potential for most closely-watched data in 2013 - HSBC

Since there is plenty of speculation about the 'taper' occurring in September, especially after the U.S. supportive data from this week, HSBC FX Team notes the June employment report has the potential to be the most closely-watched data release of 2013.

Australian downgrades economic outlook, higher unemployment seen

The Australian Treasurer Chris Bowen released the government’s economic statement today, projecting the 2013/2014 budget deficit at A$30.1 bln vs A$18 bln seen in May, as the economic outlook in the country deteriorates. Growth for 2013/14 is seen at 2.5% vs 2.75% in May, while maintains 3% for 2014/15.