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20 May 2014
Knock-knock, let EUR/USD out of its 7-pips prison!
FXStreet (Moscow) - EUR/USD has died somewhere above 1.3700 and there are no signs that there is anything that could possibly bring it back to life any time soon.
EUR/USD is immovable
EUR/USD is in dead-lock as the currency pair dropped substantially during the two previous weeks and stalled at the bespoke support of 1.3700. Obviously, this level is too strong to be taken out easily. Investors turned deaf ear to Monday’s comments from ECB officials that bent over backwards to sound dovish. It seems that we need some shocking therapy to get EUR/USD moving again, but there is nothing of the kind scheduled for today. German PPI and Italian Industrial Orders normally lack the market moving potential. From the technical point of view, keep an eye at 137.00-1.3680 area. Once it is firmly broken, the downside may accelerate to 1.3648. The upside will be limited by 1.3745
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3712, with support below at 1.3689, 1.3669 and 1.3646, with resistance above at 1.3733, 1.3755, and 1.3775. Hourly Moving Averages are neutral, with the 200SMA at 1.3762 and the daily 20EMA at 1.3782. Hourly RSI is bearish at 49.
EUR/USD is immovable
EUR/USD is in dead-lock as the currency pair dropped substantially during the two previous weeks and stalled at the bespoke support of 1.3700. Obviously, this level is too strong to be taken out easily. Investors turned deaf ear to Monday’s comments from ECB officials that bent over backwards to sound dovish. It seems that we need some shocking therapy to get EUR/USD moving again, but there is nothing of the kind scheduled for today. German PPI and Italian Industrial Orders normally lack the market moving potential. From the technical point of view, keep an eye at 137.00-1.3680 area. Once it is firmly broken, the downside may accelerate to 1.3648. The upside will be limited by 1.3745
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3712, with support below at 1.3689, 1.3669 and 1.3646, with resistance above at 1.3733, 1.3755, and 1.3775. Hourly Moving Averages are neutral, with the 200SMA at 1.3762 and the daily 20EMA at 1.3782. Hourly RSI is bearish at 49.