31 Jan 2014
EUR/USD is pulsating at 1.3550
FXstreet.com (Moscow) - EUR/USD settled around 1.3550 after a big selloff we saw overnight.
EUR got the last straw that broke its neck
Despite much better than expected data from Germany euro had to give up the 1.36 support level, and dipped quickly to 1-week low at 1.3542. We see the excitement about the single currency stability amid havoc is gone. It means that for now EM turmoil is still of more interest for investors, than national EMU data. Nevertheless, every day brings new choices, thus the change of focus to German retail sales, and euro zone CPI data is not ruled out. If the numbers prove to be positive the initial target may be at 1.3586 resistance level followed by 1.3628. To the downside the support comes at 1.3505 and followed by 1.3463.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3586, with support below at 1.3505, 1.3463 and 1.3382, with resistance above at 1.3628, 1.3709, and 1.3751. Hourly Moving Averages are largely bearish, with the 200SMA at 1.3621 and the daily 20EMA flat at 1.3632. Hourly RSI is neutral at 29.
EUR got the last straw that broke its neck
Despite much better than expected data from Germany euro had to give up the 1.36 support level, and dipped quickly to 1-week low at 1.3542. We see the excitement about the single currency stability amid havoc is gone. It means that for now EM turmoil is still of more interest for investors, than national EMU data. Nevertheless, every day brings new choices, thus the change of focus to German retail sales, and euro zone CPI data is not ruled out. If the numbers prove to be positive the initial target may be at 1.3586 resistance level followed by 1.3628. To the downside the support comes at 1.3505 and followed by 1.3463.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3586, with support below at 1.3505, 1.3463 and 1.3382, with resistance above at 1.3628, 1.3709, and 1.3751. Hourly Moving Averages are largely bearish, with the 200SMA at 1.3621 and the daily 20EMA flat at 1.3632. Hourly RSI is neutral at 29.