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3 Jun 2014
EUR/USD struggling with 1.36 resistance
FXStreet (Moscow) - EUR/USD opened the day at 1.3596, reached 1.3606 morning high, and is still on the move up somewhere around.
Inflation will not surprise
The pair is having hard time breaking above 1.36 resistance, and the released in a couple of hours data may even harden the way up. The CPI data from the EMU is on the agenda today, although most probably the market has already priced in the worse than expected numbers. The thing is that we already saw German inflation below the forecasts (0.9% vs. 1.1% expected), thus, the weak numbers today won’t be surprising. If so, we may see only muted reaction with initial target to the downside at 1.3576 support level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3607, with support below at 1.3576, 1.3556 and 1.3525, with resistance above at 1.3627, 1.3658, and 1.3678. Hourly Moving Averages are mostly nearish, with the 200SMA at 1.3629 and the daily 20EMA bearish at 1.3686. Hourly RSI is bearish at 49.
Inflation will not surprise
The pair is having hard time breaking above 1.36 resistance, and the released in a couple of hours data may even harden the way up. The CPI data from the EMU is on the agenda today, although most probably the market has already priced in the worse than expected numbers. The thing is that we already saw German inflation below the forecasts (0.9% vs. 1.1% expected), thus, the weak numbers today won’t be surprising. If so, we may see only muted reaction with initial target to the downside at 1.3576 support level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3607, with support below at 1.3576, 1.3556 and 1.3525, with resistance above at 1.3627, 1.3658, and 1.3678. Hourly Moving Averages are mostly nearish, with the 200SMA at 1.3629 and the daily 20EMA bearish at 1.3686. Hourly RSI is bearish at 49.