13 May 2014
EUR/USD is glued to 1.3760 area
FXStreet (Moscow) - EUR/USD opened the day at 1.3757, and hardly moved 10 pips since that time.
ZEW data in focus
The pair was very reserved yesterday, trading close to monthly lows during the whole Monday, and we continue to see the same picture this morning. The reason the market decided to take a pause in euro trades lies in recent Draghi comments, and in common belief that the ECB will go for additional easing next time. Thus, the investors may take every opportunity to enter the market with shorts at attractive levels. The ZEW data today may give such opportunity if it comes out above the forecasts. The initial move higher may be limited by the nearest resistance level at 1.3788 with high chances of quick move back in a couple of hours.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3760, with support below at 1.3745, 1.3742 and 1.3717, with resistance above at 1.3773, 1.3788, and 1.3801. Hourly Moving Averages are bearish, with the 200SMA at 1.3862 and the daily 20EMA at 1.3832. Hourly RSI is bearish at 42.
ZEW data in focus
The pair was very reserved yesterday, trading close to monthly lows during the whole Monday, and we continue to see the same picture this morning. The reason the market decided to take a pause in euro trades lies in recent Draghi comments, and in common belief that the ECB will go for additional easing next time. Thus, the investors may take every opportunity to enter the market with shorts at attractive levels. The ZEW data today may give such opportunity if it comes out above the forecasts. The initial move higher may be limited by the nearest resistance level at 1.3788 with high chances of quick move back in a couple of hours.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3760, with support below at 1.3745, 1.3742 and 1.3717, with resistance above at 1.3773, 1.3788, and 1.3801. Hourly Moving Averages are bearish, with the 200SMA at 1.3862 and the daily 20EMA at 1.3832. Hourly RSI is bearish at 42.