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4 Jun 2014
EUR/USD ignores Services PMI, GDP to follow
FXStreet (Moscow) - EUR/USD was slowly floating around 1.36 area, awaiting the PMI releases, and completely ignored the worse than expected numbers.
When PMIs are out
The pair is reluctant to show high volatility before the key event of the year – ECB meeting where a new round of easing may be launched. The Services PMI data out of the EMU countries didn’t trigger even mild reaction of the pair, as the readings again confirmed the economic recovery in the euro zone is going on unevenly. While Spain, France and Germany numbers disappointed, Italy came out above expectations bringing the EMU composite index to 53.5 vs 53.9 expected. The pair now will focus on Q1 GDP numbers.
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.
When PMIs are out
The pair is reluctant to show high volatility before the key event of the year – ECB meeting where a new round of easing may be launched. The Services PMI data out of the EMU countries didn’t trigger even mild reaction of the pair, as the readings again confirmed the economic recovery in the euro zone is going on unevenly. While Spain, France and Germany numbers disappointed, Italy came out above expectations bringing the EMU composite index to 53.5 vs 53.9 expected. The pair now will focus on Q1 GDP numbers.
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.