FXstreet.com (Barcelona) - Hopes of further policy easing by the Fed, likely to be QE3, as the US manufacturing data disappoints in August is taking the EUR/USD to higher levels on Thursday. The Philadelphia Fed manufacturing survey registered an improvement from -12.5 to -7.1, still contracting and below the expected -5.0.
The EUR/USD, already edging higher on the day since the mixed housing and labor market data found new strength to reach 1.2369, as it continues to print new daily highs.
“I expect a reversal to initiate a break through 1.2307 crucial level, for a rise towards 1.2442”, wrote Deltastock.com analyst Stoyan Mihaylov, pointing to support at 1.2135.
The EUR/USD, already edging higher on the day since the mixed housing and labor market data found new strength to reach 1.2369, as it continues to print new daily highs.
“I expect a reversal to initiate a break through 1.2307 crucial level, for a rise towards 1.2442”, wrote Deltastock.com analyst Stoyan Mihaylov, pointing to support at 1.2135.
