6 Jan 2014
EUR/USD is moving lower depressed by risk aversion
FXstreet.com (Moscow) - EUR/USD started the Asia in bearish mood slipping down from 1.3593 at the start to 1.3578 at the moment.
It’s all about ECB
The euro zone recovery is still uneven, what may put the ECB under pressure to speed up the decision on new stimulus. Scheduled for this week monetary meeting may bring some volatility to the market, as Draghi is expected to sound pessimistic during the press conference. Thus, the market will pay attention to any indicator able to affect the chairman’s comments. If the released today PMI data prove to be weaker than expected, it may push EUR/USD lower to the nearest support at 1.3553.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3613, with support below at 1.3553 (S1), 1.3523 (S2) and 1.3463 (S3), with resistance above at 1.3643 (R1), 1.3703 (R2), and 1.3733 (R3). Hourly Moving Averages are bearish, with the 200SMA at 1.3717 and the daily 20EMA bearish at 1.3689. Hourly RSI is neutral at 26.
It’s all about ECB
The euro zone recovery is still uneven, what may put the ECB under pressure to speed up the decision on new stimulus. Scheduled for this week monetary meeting may bring some volatility to the market, as Draghi is expected to sound pessimistic during the press conference. Thus, the market will pay attention to any indicator able to affect the chairman’s comments. If the released today PMI data prove to be weaker than expected, it may push EUR/USD lower to the nearest support at 1.3553.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3613, with support below at 1.3553 (S1), 1.3523 (S2) and 1.3463 (S3), with resistance above at 1.3643 (R1), 1.3703 (R2), and 1.3733 (R3). Hourly Moving Averages are bearish, with the 200SMA at 1.3717 and the daily 20EMA bearish at 1.3689. Hourly RSI is neutral at 26.