28 May 2014
EUR/USD dances around 1.3630
FXStreet (Moscow) - EUR/USD took off from the Asian low of 1.3625, but managed to climb only to 1.3631. The bullish momentum is weak ahead of European macroeconomic reports.
More food for thought
EUR/USD has been consolidating within 50-pips range since the start of the week. This is but natural as investors need to get used to new EUR levels reached after a three-week decline. From the fundamental point of view, there are several reports scheduled for today that may influence EUR/USD movements today. The European session will start with German import prices and unemployment change. According to the forecasts, the number of unemployed has decreased by 15,000. It is clear that the German labour market has stabilized, thus if the numbers come out in line or better than expected, the single currency may be supported, but the upside movement will be limited by strong offers clustered around 1.3670/75 resistance level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3639, with support below at 1.3608, 1.3581 and 1.3550, with resistance above at 1.3666, 1.3697, and 1.3724. Hourly Moving Averages are mixed, with the 200SMA at 1.3675 and the daily 20EMA at 1.3725. Hourly RSI is bullish at 50.
More food for thought
EUR/USD has been consolidating within 50-pips range since the start of the week. This is but natural as investors need to get used to new EUR levels reached after a three-week decline. From the fundamental point of view, there are several reports scheduled for today that may influence EUR/USD movements today. The European session will start with German import prices and unemployment change. According to the forecasts, the number of unemployed has decreased by 15,000. It is clear that the German labour market has stabilized, thus if the numbers come out in line or better than expected, the single currency may be supported, but the upside movement will be limited by strong offers clustered around 1.3670/75 resistance level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3639, with support below at 1.3608, 1.3581 and 1.3550, with resistance above at 1.3666, 1.3697, and 1.3724. Hourly Moving Averages are mixed, with the 200SMA at 1.3675 and the daily 20EMA at 1.3725. Hourly RSI is bullish at 50.