The EUR/USD is now trading around 1.3010 (-0.27% on the day) ahead of the New York opening, with housing data on the way. Having jumped by +11% in the previous week, US mortgage applications by MBA have dropped -0.2% in the week ending at September 14.
Commerzbank analysts are “cautious given the extent of the recent run up, and note that the slow stochastics indicator has started to roll over”, wrote analyst Karen Jones, suggesting a pullback near term to 1.2932/1.2829 (200 day ma), before a probable renewed upside attempt.
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