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14 Feb 2014
EUR/USD is struggling to break 1.3690
FXStreet (Moscow) - After several attempts to touch 1.3690 EUR/USD fall asleep around 1.3680.
GDP numbers can be scary
EUR/USD gained only 10 points in the morning to encounter sellers ahead of 1.3690 (the 4th time), pushing it back to range bound. Even the news that the Italian prime minister will resign on Friday, opening the way for the country's third administration in a year, didn’t trigger any interest from the euro. Yesterday, the single currency surprised by its unexpected rush higher on practically nothing. Nevertheless, today is a time to gather stones, and the scheduled for release GDP numbers from Germany and the EMU on the whole may be the trigger of the mass sell-off. The series of weak industrial data and cautious comments of the ECB officials only support the fears of worse than expected reports. If so, the initial target is at 1.3653 pivot point, followed by 1.3613 support level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3653, with support below at 1.3613, 1.3544 and 1.3504, with resistance above at 1.3722, 1.3762, and 1.3831. Hourly Moving Averages are bullish, with the 200SMA at 1.3593 and the daily 20EMA flat at 1.3613. Hourly RSI is neutral at 67.
GDP numbers can be scary
EUR/USD gained only 10 points in the morning to encounter sellers ahead of 1.3690 (the 4th time), pushing it back to range bound. Even the news that the Italian prime minister will resign on Friday, opening the way for the country's third administration in a year, didn’t trigger any interest from the euro. Yesterday, the single currency surprised by its unexpected rush higher on practically nothing. Nevertheless, today is a time to gather stones, and the scheduled for release GDP numbers from Germany and the EMU on the whole may be the trigger of the mass sell-off. The series of weak industrial data and cautious comments of the ECB officials only support the fears of worse than expected reports. If so, the initial target is at 1.3653 pivot point, followed by 1.3613 support level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3653, with support below at 1.3613, 1.3544 and 1.3504, with resistance above at 1.3722, 1.3762, and 1.3831. Hourly Moving Averages are bullish, with the 200SMA at 1.3593 and the daily 20EMA flat at 1.3613. Hourly RSI is neutral at 67.