6 Jan 2014
EUR/USD off lows post PMIs
FXstreet.com (Barcelona) - EUR/USD shuffled along overnight, trading at 1.3570 lows since early December, before climbing on mixed Eurozone Services PMI data.
EUR/USD off lows since Dec 5th
Eurozone Services PMIs came in mixed, with Italy and Germany missing expectations, but France surprisingly beating forecasts, but remaining under the 50 contraction/expansion benchmark. Eurozone PMI composite and Services PMI came in line with expectations at 52.1 and 51 respectively. Later today, German CPI is the headline event in the European calendar at 13:00 GMT. Spot has presently pushed its head above the 1.3600 level, and is presently trading at 1.3607. Looking at a retracement from the Dec 27 high at 1.3892, to last nights low at 1.3570, we see that any retracement would meet resistance at the 23.6% level at 1.3645.
What are today´s key EUR/USD technicals?
Hourly RSI sits at 47 and climbing, while ADX is 49 and bearish. The hourly 200 SMA sits at 1.3715, with the 20D EMA at 1.3689, both providing resistance to spot. The daily pivot point can be found at 1.3613 and is providing near term resistance to spot, before the Dec 20 low at 1.3624 and R1 above at 1.3643. Below next support falls at S1 1.3553, before 1.3543 (Dec 5 low), and 1.3524 (Dec 2-4 lows). A Dark Cloud cover candlestick chart can also be seen on a weekly chart.
EUR/USD off lows since Dec 5th
Eurozone Services PMIs came in mixed, with Italy and Germany missing expectations, but France surprisingly beating forecasts, but remaining under the 50 contraction/expansion benchmark. Eurozone PMI composite and Services PMI came in line with expectations at 52.1 and 51 respectively. Later today, German CPI is the headline event in the European calendar at 13:00 GMT. Spot has presently pushed its head above the 1.3600 level, and is presently trading at 1.3607. Looking at a retracement from the Dec 27 high at 1.3892, to last nights low at 1.3570, we see that any retracement would meet resistance at the 23.6% level at 1.3645.
What are today´s key EUR/USD technicals?
Hourly RSI sits at 47 and climbing, while ADX is 49 and bearish. The hourly 200 SMA sits at 1.3715, with the 20D EMA at 1.3689, both providing resistance to spot. The daily pivot point can be found at 1.3613 and is providing near term resistance to spot, before the Dec 20 low at 1.3624 and R1 above at 1.3643. Below next support falls at S1 1.3553, before 1.3543 (Dec 5 low), and 1.3524 (Dec 2-4 lows). A Dark Cloud cover candlestick chart can also be seen on a weekly chart.