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4 Jun 2014
EUR/USD is still above 1.36, but in close vicinity
FXStreet (Moscow) - EUR/USD opened the day at 1.3627, and gradually moved down reaching 1.3608 low by the morning, and trading not far from it.
Another test for the euro
Although 1.36 area of resistance stays intact for now, the euro rose on the fear yesterday, but not on the data. The traders got scared yesterday, as even weaker than expected CPI readings were not able to pressure the single currency. The possibility of the pair hitting the bottom fueled the rally, however, new series of the EMU reports scheduled for today may be another test for the euro. Weaker than expected Services PMI coupled with the euro zone GDP readings may pressure the pair with initial target at 1.3593 support level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3621, with support below at 1.3593, 1.3559 and 1.3531, with resistance above at 1.3655, 1.3683, and 1.3717. Hourly Moving Averages are mixed, with the 200SMA at 1.3623 and the daily 20EMA bearish at 1.3680. Hourly RSI is bearish at 46.
Another test for the euro
Although 1.36 area of resistance stays intact for now, the euro rose on the fear yesterday, but not on the data. The traders got scared yesterday, as even weaker than expected CPI readings were not able to pressure the single currency. The possibility of the pair hitting the bottom fueled the rally, however, new series of the EMU reports scheduled for today may be another test for the euro. Weaker than expected Services PMI coupled with the euro zone GDP readings may pressure the pair with initial target at 1.3593 support level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3621, with support below at 1.3593, 1.3559 and 1.3531, with resistance above at 1.3655, 1.3683, and 1.3717. Hourly Moving Averages are mixed, with the 200SMA at 1.3623 and the daily 20EMA bearish at 1.3680. Hourly RSI is bearish at 46.