10 Feb 2014
EUR/USD is testing 1.3650 area
FXStreet (Moscow) - EUR/USD is moving higher reaching 1.3649 at the moment.
EUR-friendly environment
Although the pair is on the rise, the 1.3650 area will be hard to break, since good selling interest is reported there. The Sentix Investor Confidence from the EMU is scheduled for release soon, and since the economic calendar is barren for today, there is some possibility the data triggers some mild movements in the currency market. The recent comments from Draghi are euro-positive, as the ECB president focused more on the regions recovery, denying any deflationary processes in the euro zone for now. It means the regulator is in no rush to ease, thus on the backdrop of weak US data, and dovish expectations from the Yellen’s testimony, it supports the pair move higher. The initial target in this case may be at 1.3704 resistance. The downside is limited to 1.3611 support level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3611, with support below at 1.3579, 1.3518 and 1.3486, with resistance above at 1.3672, 1.3704, and 1.3765. Hourly Moving Averages are largely bullish, with the 200SMA at 1.3565 and the daily 20EMA flat at 1.3599. Hourly RSI is neutral at 65.
EUR-friendly environment
Although the pair is on the rise, the 1.3650 area will be hard to break, since good selling interest is reported there. The Sentix Investor Confidence from the EMU is scheduled for release soon, and since the economic calendar is barren for today, there is some possibility the data triggers some mild movements in the currency market. The recent comments from Draghi are euro-positive, as the ECB president focused more on the regions recovery, denying any deflationary processes in the euro zone for now. It means the regulator is in no rush to ease, thus on the backdrop of weak US data, and dovish expectations from the Yellen’s testimony, it supports the pair move higher. The initial target in this case may be at 1.3704 resistance. The downside is limited to 1.3611 support level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3611, with support below at 1.3579, 1.3518 and 1.3486, with resistance above at 1.3672, 1.3704, and 1.3765. Hourly Moving Averages are largely bullish, with the 200SMA at 1.3565 and the daily 20EMA flat at 1.3599. Hourly RSI is neutral at 65.