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27 Feb 2014
EUR/USD licked the wounds up to 1.3690
FXStreet (Moscow) - EUR/USD launched a rebound after overnight low at 1.3661 was reached; it trades around 1.3690 at the moment.
German labor data – hot, cool, yours
The pair broke the vow of silence, and lost about 80 pips on USD demand. The exaggerated move down would be surprising if it were not for the risk aversion from EM markets, and rumors that the ECB officials still thinking of cutting the rates at the nearest meeting. Nevertheless, the looming German labor data may change the balance of forces, as there are chances to see better than expected data. The February PMI numbers say that there was large rise of employment component, and if it’s true, we may see the pair recovery with initial target at 1.3742 resistance level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3702, with support below at 1.3646, 1.3606, and 1.3550, with resistance above at 1.3742, 1.3798, and 1.3838. Hourly Moving Averages are largely bearish, with the 200SMA at 1.3727 and the daily 20EMA flat at 1.3678. Hourly RSI is neutral at 40.
German labor data – hot, cool, yours
The pair broke the vow of silence, and lost about 80 pips on USD demand. The exaggerated move down would be surprising if it were not for the risk aversion from EM markets, and rumors that the ECB officials still thinking of cutting the rates at the nearest meeting. Nevertheless, the looming German labor data may change the balance of forces, as there are chances to see better than expected data. The February PMI numbers say that there was large rise of employment component, and if it’s true, we may see the pair recovery with initial target at 1.3742 resistance level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3702, with support below at 1.3646, 1.3606, and 1.3550, with resistance above at 1.3742, 1.3798, and 1.3838. Hourly Moving Averages are largely bearish, with the 200SMA at 1.3727 and the daily 20EMA flat at 1.3678. Hourly RSI is neutral at 40.