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16 May 2014
EUR/USD is on the verge of crucial breakthrough
FXStreet (Moscow) - EUR/USD is sidelined with light bullish bias as the pair started Asian session at 1.3708 and climbed to current level of 1.3719.
It’s make or break for EUR
EUR/USD is ready to finish the second consecutive week in declineю The longer-term technical horizon is covered with clouds, though, while the pair sits above 1.3700, bulls have a chance to strike back. Yesterday EUR/USD briefly dipped to 1.3648 - tho is the lowest level since the end of February - but the downside was quickly reversed and the single currency returned to its narrow range. There are no game changing data from Eurozone to be published today, and just a couple of interesting reports from the US, thus EUR/USD is likely to be technically driven. Another failed attempt at 1.3700 might trigger the upside rebound that could be limited by medium offers on approach to 1.3730 and then by 100-dma at 1.3740. Clear break below 1.3700 will absorb long stops and push EUR/USD to 1.3646 where the downside momentum would fade away.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3698, with support below at 1.3661, 1.3612 and 1.3576, with resistance above at 1.3746, 1.3782, and 1.3831. Hourly Moving Averages are mixed, with the 200SMA at 1.3805 and the daily 20EMA at 1.3800. Hourly RSI is bullish at 58.
It’s make or break for EUR
EUR/USD is ready to finish the second consecutive week in declineю The longer-term technical horizon is covered with clouds, though, while the pair sits above 1.3700, bulls have a chance to strike back. Yesterday EUR/USD briefly dipped to 1.3648 - tho is the lowest level since the end of February - but the downside was quickly reversed and the single currency returned to its narrow range. There are no game changing data from Eurozone to be published today, and just a couple of interesting reports from the US, thus EUR/USD is likely to be technically driven. Another failed attempt at 1.3700 might trigger the upside rebound that could be limited by medium offers on approach to 1.3730 and then by 100-dma at 1.3740. Clear break below 1.3700 will absorb long stops and push EUR/USD to 1.3646 where the downside momentum would fade away.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3698, with support below at 1.3661, 1.3612 and 1.3576, with resistance above at 1.3746, 1.3782, and 1.3831. Hourly Moving Averages are mixed, with the 200SMA at 1.3805 and the daily 20EMA at 1.3800. Hourly RSI is bullish at 58.