FX News – September 27: Late Friday Session Updates

FX Strategy Articles > FX Trading Tips

We'll cap off this week with a few updates on today's session.

Starting with the EUR/USD, the pair rose around the end of the European session and at the beginning of the US session.

In Europe, September's economic sentiment indicator rose from 95.2 to 96.9, which was better than the expected 96.0. However, this was dragged down by other data such as the business climate, which remained at -0.2 instead of improving slightly to -0.1 as expected. Meanwhile, consumer confidence dropped as well. From the previous 14.9, it dropped to -14.9, instead of just -14.5.

Meanwhile, the US had mostly positive data or at least within expectations. For example, its core personal consumption expenditure price index for August improved from 0.1% to 0.2% instead of it remaining flat as analysts expected. Meanwhile, personal spending was as expected at 0.3%, as with the personal income data, which was at 0.4%.

The USD remained largely weak despite the positive US data, however. This helped boost the EUR/USD pair temporarily to the 1.3555 zone. However, it was dragged down back again over the past few hours and is currently trading at 1.3531.

Initial resistance for the EUR/USD pair is at 1.3510, followed by 1.3544. Meanwhile, initial support is at 1.3449, followed by 1.3415.

The AUD/USD pair continued its struggle late in today's session as it was finally dragged down to almost the 0.9300 zone. This was after the pair made massive gains around the same period last week, wherein it reached the 0.9520 zone.

The AUD/USD pair is now back to where it was Monday last week and is currently trading at 0.9314. Initial resistance for the pair is at 0.9384, followed by 0.9407. Meanwhile, initial support is at 0.9320, followed by 0.9297.

We’ll return next week with more fx news. Have a great weekend.

By FX Strategy Team, Published on 27th of September 2013
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