2 Jun 2014
EUR/USD waiting for some clues from PMI
FXStreet (Moscow) - EUR/USD opened the day at 1.3634, slid to 1?3620 in Asia, and returned back to the start levels by the moment.
No more reports blockade
The fundamental blockade of the last week will end today, as we will get a number of market moving indicators, with EMU Manufacturing PMIs on the agenda during European session. Although the key focus of the week ahead is on ECB monetary decision, market still may take the data as a clue to current developments in euro zone economy, thus, using the number to forecast the level of dovishness Draghi may show. Any positive surprises may support the pair move to initial resistance at 1.3657.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3628, with support below at 1.3604, 1.3575 and 1.3551, with resistance above at 1.3657, 1.3668, and 1.3710. Hourly Moving Averages are mostly bullish, with the 200SMA at 1.3641 and the daily 20EMA at 1.3695. Hourly RSI is bullish at 54.
No more reports blockade
The fundamental blockade of the last week will end today, as we will get a number of market moving indicators, with EMU Manufacturing PMIs on the agenda during European session. Although the key focus of the week ahead is on ECB monetary decision, market still may take the data as a clue to current developments in euro zone economy, thus, using the number to forecast the level of dovishness Draghi may show. Any positive surprises may support the pair move to initial resistance at 1.3657.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3628, with support below at 1.3604, 1.3575 and 1.3551, with resistance above at 1.3657, 1.3668, and 1.3710. Hourly Moving Averages are mostly bullish, with the 200SMA at 1.3641 and the daily 20EMA at 1.3695. Hourly RSI is bullish at 54.