6 Feb 2014
EUR/USD awaits the ECB
FXStreet (Guatemala) - EUR/USD is a steady pair on the session that achieved a high through 1.3550 before a sharp drop back to take a look at the 1.35 handle. Since then, the pair has channelled between 1.3528 and 1.3540.
Strategists at Rabobank explained, “There are a handful of analysts expecting the ECB to cut rates from 0.25% to 0.1%. Recent Eurozone data have exceeded expectations in some areas, but CPI fell back surprisingly sharply in January. Meanwhile, money market rates have been volatile since December last year, although overnight rates have settled at levels that may yet be ‘acceptable’ to the ECB in recent days. Overall, we lean towards a “no change” decision”.
EUR/USD Levels
The 20 DMA is 1.3604, the 50 DMA is 1.3648 and the 200 DMA is 1.3378. RSI (14) reads 42.79. Supports are ascending from 1.3390, 1.3463, 1.3477, 1.3494, 1.3512. Spot is 1.3531 while resistances are 1.3574, 1.3590 and 1.3605.
Strategists at Rabobank explained, “There are a handful of analysts expecting the ECB to cut rates from 0.25% to 0.1%. Recent Eurozone data have exceeded expectations in some areas, but CPI fell back surprisingly sharply in January. Meanwhile, money market rates have been volatile since December last year, although overnight rates have settled at levels that may yet be ‘acceptable’ to the ECB in recent days. Overall, we lean towards a “no change” decision”.
EUR/USD Levels
The 20 DMA is 1.3604, the 50 DMA is 1.3648 and the 200 DMA is 1.3378. RSI (14) reads 42.79. Supports are ascending from 1.3390, 1.3463, 1.3477, 1.3494, 1.3512. Spot is 1.3531 while resistances are 1.3574, 1.3590 and 1.3605.