1 May 2014
EUR/USD probes the territory around 1.39
FXStreet (Moscow) - EUR/USD opened the day at 1.3866, tread some water in Asia, and is on the move higher right now reaching 4-week high at 1.3887.
Caution – zone of jawboning!
Euro have nothing to focus on from fundamental point of view, as we already got PMIs, and CPI data either from Germany, and the EMU on the whole. The price pressure slowly goes up, and it’s another argument in favor of the single currency. Now we know that there are few chances the ECB will go for additional easing during May meeting, and the pair prices it in with passion coming closer to dangerous area 1.39-1.40, where usually officials come to jawbone. These levels are very attractive for entering the market with shorts, and thus, the move down with initial target at 1.3839 support level is not ruled out.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3839, with support below at 1.3800, 1.3734 and 1.3695, with resistance above at 1.3905, 1.3944, and 1.4010. Hourly Moving Averages are bullish, with the 200SMA at 1.3828 and the daily 20EMA flat at 1.3820. Hourly RSI is bullish at 66.
Caution – zone of jawboning!
Euro have nothing to focus on from fundamental point of view, as we already got PMIs, and CPI data either from Germany, and the EMU on the whole. The price pressure slowly goes up, and it’s another argument in favor of the single currency. Now we know that there are few chances the ECB will go for additional easing during May meeting, and the pair prices it in with passion coming closer to dangerous area 1.39-1.40, where usually officials come to jawbone. These levels are very attractive for entering the market with shorts, and thus, the move down with initial target at 1.3839 support level is not ruled out.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3839, with support below at 1.3800, 1.3734 and 1.3695, with resistance above at 1.3905, 1.3944, and 1.4010. Hourly Moving Averages are bullish, with the 200SMA at 1.3828 and the daily 20EMA flat at 1.3820. Hourly RSI is bullish at 66.