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11 Mar 2014
EUR/USD keeps silence around 1.3860
FXStreet (Moscow) - EUR/USD managed to reach Asian high at 1.3878, but since then stepped down to 1.3862 low.
Mild reactions to second-tier data
The pair is drifting lower on no news. The economic calendar of euro zone is practically barren. Thus, in such an environment we may see the exaggerated reaction to the news which is traditionally not in the area of market’s interest. The revised GDP numbers for Italy and Portugal, and German Trade Balance may support a mild demand on the euro in case of positive results. Nevertheless, the 1.39 area is still hard to break through, thus the retracement back to initial support level at 1.3842 is not ruled out, once it reaches the mentioned resistance.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3879, with support below at 1.3860, 1.3842 and 1.3823, with resistance above at 1.3897, 1.3916, and 1.3934. Hourly Moving Averages are bullish, with the 200SMA at 1.3773 and the daily 20EMA bullish at 1.3746. Hourly RSI is neutral at 42.
Mild reactions to second-tier data
The pair is drifting lower on no news. The economic calendar of euro zone is practically barren. Thus, in such an environment we may see the exaggerated reaction to the news which is traditionally not in the area of market’s interest. The revised GDP numbers for Italy and Portugal, and German Trade Balance may support a mild demand on the euro in case of positive results. Nevertheless, the 1.39 area is still hard to break through, thus the retracement back to initial support level at 1.3842 is not ruled out, once it reaches the mentioned resistance.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3879, with support below at 1.3860, 1.3842 and 1.3823, with resistance above at 1.3897, 1.3916, and 1.3934. Hourly Moving Averages are bullish, with the 200SMA at 1.3773 and the daily 20EMA bullish at 1.3746. Hourly RSI is neutral at 42.