18 Feb 2014
EUR/USD cruises around 1.37 area
FXStreet (Moscow) - EUR/USD spent the whole morning in tight 20-pip range going around 1.37 area.
German ZEW may bring the euro down
The pair is still treading water around 1.37, but the fact that EUR/USD was able to close Monday above this strong psychological level gives the reason to expect further move higher, if fundamentals give the required support. Nevertheless, the scheduled for today ZEW Economic Sentiment index from Germany may bring some negative surprises, given the recent disappointments from industrial data. If the number is below expectations, it may trigger sell-off of the euro bringing the pair back to 1.3673 support level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3707, with support below at 1.3689, 1.3673 and 1.3655, with resistance above at 1.3723, 1.3741, and 1.3757. Hourly Moving Averages are bullish, with the 200SMA at 1.3636 and the daily 20EMA bullish at 1.3629. Hourly RSI is neutral at 58.
German ZEW may bring the euro down
The pair is still treading water around 1.37, but the fact that EUR/USD was able to close Monday above this strong psychological level gives the reason to expect further move higher, if fundamentals give the required support. Nevertheless, the scheduled for today ZEW Economic Sentiment index from Germany may bring some negative surprises, given the recent disappointments from industrial data. If the number is below expectations, it may trigger sell-off of the euro bringing the pair back to 1.3673 support level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3707, with support below at 1.3689, 1.3673 and 1.3655, with resistance above at 1.3723, 1.3741, and 1.3757. Hourly Moving Averages are bullish, with the 200SMA at 1.3636 and the daily 20EMA bullish at 1.3629. Hourly RSI is neutral at 58.