3 Feb 2014
EUR/USD is addicted to 1.3480
FXstreet.com (Moscow) - EUR/USD settled around 1.3480 after a big selloff we saw during the last two trading days.
EUR is data-dependant
Euro became a hostage of national data, since for now it’s the key factor defining the future of the ECB monetary policy. The ultra easy cycle of executive board makes the single currency less attractive asset on the background of the FED’s tapering mode. Thus, every new piece of data signaling the weak recovery of the national economy, or deflationary pressures supports the sell-off for the euro. Today the PMI manufacturing data from different countries of the region is released. If the numbers are better than expected, it may support the recovery of the pair with the initial target at 1.3513 resistance level. To the downside the support comes at 1.3453 and followed by 1.3418.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3513, with support below at 1.3453, 1.3418 and 1.3358, with resistance above at 1.3648, 1.3608, and 1.3643. Hourly Moving Averages are bearish, with the 200SMA at 1.3617 and the daily 20EMA bearish at 1.3619. Hourly RSI is neutral at 33.
EUR is data-dependant
Euro became a hostage of national data, since for now it’s the key factor defining the future of the ECB monetary policy. The ultra easy cycle of executive board makes the single currency less attractive asset on the background of the FED’s tapering mode. Thus, every new piece of data signaling the weak recovery of the national economy, or deflationary pressures supports the sell-off for the euro. Today the PMI manufacturing data from different countries of the region is released. If the numbers are better than expected, it may support the recovery of the pair with the initial target at 1.3513 resistance level. To the downside the support comes at 1.3453 and followed by 1.3418.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3513, with support below at 1.3453, 1.3418 and 1.3358, with resistance above at 1.3648, 1.3608, and 1.3643. Hourly Moving Averages are bearish, with the 200SMA at 1.3617 and the daily 20EMA bearish at 1.3619. Hourly RSI is neutral at 33.