8 May 2014
EUR/USD is bid on dips, reached 1.3940 area
FXStreet (Moscow) - EUR/USD continues the move higher reaching 1.3939 at the moment.
Rebound to retreat again
Although the pair retreated to 1.39 area in the morning scared that Draghi won’t like such high levels, the move up resumed with the euro reaching 1.3939 session high by the moment. The rise was helped by the demand seen in the dip toward 1.3900, thus the upside is limited by 1.3935 intermediate resistance with more sellers’ interest around 1.3950 area. Once it’s reached the retreat back again to 1.39 is not ruled out. The ECB and Draghi on the agenda, and just a few hours left before we know the medium-term direction for the pair.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3919, with support below at 1.3900, 1.3889 and 1.3870, with resistance above at 1.3930, 1.3949, and 1.3960. Hourly Moving Averages are bullish, with the 200SMA at 1.3871 and the daily 20EMA at 1.3842. Hourly RSI is bullish at 51.
Rebound to retreat again
Although the pair retreated to 1.39 area in the morning scared that Draghi won’t like such high levels, the move up resumed with the euro reaching 1.3939 session high by the moment. The rise was helped by the demand seen in the dip toward 1.3900, thus the upside is limited by 1.3935 intermediate resistance with more sellers’ interest around 1.3950 area. Once it’s reached the retreat back again to 1.39 is not ruled out. The ECB and Draghi on the agenda, and just a few hours left before we know the medium-term direction for the pair.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3919, with support below at 1.3900, 1.3889 and 1.3870, with resistance above at 1.3930, 1.3949, and 1.3960. Hourly Moving Averages are bullish, with the 200SMA at 1.3871 and the daily 20EMA at 1.3842. Hourly RSI is bullish at 51.