EUR/USD goes up only to come down

FXStreet (Moscow) - EUR/USD reached the intraday high at 1.3837 after opening at 1.3826, following the new splash of anti-risk sentiments

Safe-heaven contest: EUR, USD or a piggy bank?

EUR/USD is trying hard to develop the upside movement early in Asia. Its success is limited by 10 pips so far, but the underlying factors behind the move are interesting as EUR is strengthening on the back of anti-risk sentiments, caused by US-Russia-Ukraine conflict escalation. This is puzzling as Europe will suffer more dire consequences if the situation gets out of control. The geopolitical situation is going to be the key issue of the day as the economic calendar is light on both sides of Atlantic. The risk-off sentiments will keep the safe-heaven currencies in demand, and USD - under pressure, while EUR bulls won’t dare to go beyond the option barrier at 1.3855/60. The single currency might change the direction once the European players join the game, but the bears need to clear out 1.3816 - 1.3800 support zone to change the EUR prospects.

What are today’s key EUR/USD levels?

Today's central pivot point can be found at 1.3822, with support below at 1.3801, 1.3769 and 1.3748, with resistance above at 1.3854, 1.3875, and 1.3907. Hourly Moving Averages are bullish, with the 200SMA at 1.3818 and the daily 20EMA neutral at 1.3810. Hourly RSI is bullish at 54.