21 Jan 2014
EUR/USD slipping away from 100 DMA on light supply
FXstreet.com (Guatemala) - EUR/USD has dropped away from 1.3560 and 100 DMA and threatens the 1.3529 supporting territory on trickle feed supply.
There is a favourable environment for the dollar currently, despite the shockingly poor Non farm Payrolls data that came recently. Indeed, there is even some speculation that the Fed is expected to wind down its purchases of bonds even further this month. RBS strategists at RBS said earlier, “The follow-through from the initial post-payrolls squeeze in US rates markets has been a little disappointing, so we may have already established the conditions for another back-up in yields. This may see a somewhat stronger USD”.
EUR/USD Levels
The 20 DMA is 1.3658, the 50 DMA is 1.3619 and the 200 DMA is 1.3346. RSI (14) reads 30.57. Supports are ascending from 1.3417, 1.3444, 1.3463, 1.3490,1.3529. Spot is 1.3543 while resistances are 1.3586, 1.3598 and 1.3624.
There is a favourable environment for the dollar currently, despite the shockingly poor Non farm Payrolls data that came recently. Indeed, there is even some speculation that the Fed is expected to wind down its purchases of bonds even further this month. RBS strategists at RBS said earlier, “The follow-through from the initial post-payrolls squeeze in US rates markets has been a little disappointing, so we may have already established the conditions for another back-up in yields. This may see a somewhat stronger USD”.
EUR/USD Levels
The 20 DMA is 1.3658, the 50 DMA is 1.3619 and the 200 DMA is 1.3346. RSI (14) reads 30.57. Supports are ascending from 1.3417, 1.3444, 1.3463, 1.3490,1.3529. Spot is 1.3543 while resistances are 1.3586, 1.3598 and 1.3624.