5 May 2014
EUR/USD is sitting close to the opening level, waiting for triggers
FXStreet (Moscow) - EUR/USD is sidelined after touching the Asian low at 1.3863.
Waiting for ECB
EUR/USD has been pretty volatile since the middle of the previous week. Mixed economic indicators and unclear monetary policy future make investors a bit nervous. The single currency climbed to the upper segment of its recent range, but 1.3800 pivot remained untack as no one wants to bet on EUR rally, not until ECB policy wetting scheduled on Thursday. Low inflation is still an issue, but April figures were not bad enough to guarantee immediate actions from Draghi and Co. On the intraday basis the pair may be sensitive to EZ PPI data, that will be interpreted in the context of the forthcoming ECB meeting. Lower than expected figures may trigger selling across the board, though in EUR/USD the bearish dynamic is likely to be limited by 1.3857/50.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3855, with support below at 1.3827, 1.3785 and 1.3757, with resistance above at 1.3897, 1.3925, and 1.3967. Hourly Moving Averages are bullish, with the 200SMA at 1.3841 and the daily 20EMA at 1.3829. Hourly RSI is bullish at 56.
Waiting for ECB
EUR/USD has been pretty volatile since the middle of the previous week. Mixed economic indicators and unclear monetary policy future make investors a bit nervous. The single currency climbed to the upper segment of its recent range, but 1.3800 pivot remained untack as no one wants to bet on EUR rally, not until ECB policy wetting scheduled on Thursday. Low inflation is still an issue, but April figures were not bad enough to guarantee immediate actions from Draghi and Co. On the intraday basis the pair may be sensitive to EZ PPI data, that will be interpreted in the context of the forthcoming ECB meeting. Lower than expected figures may trigger selling across the board, though in EUR/USD the bearish dynamic is likely to be limited by 1.3857/50.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3855, with support below at 1.3827, 1.3785 and 1.3757, with resistance above at 1.3897, 1.3925, and 1.3967. Hourly Moving Averages are bullish, with the 200SMA at 1.3841 and the daily 20EMA at 1.3829. Hourly RSI is bullish at 56.