8 May 2014
EUR/USD is crawling back to 1.39 area
FXStreet (Moscow) - EUR/USD opened the day at 1.3909, moved lower to 1.3905, but rebounded back to 1.3913 at the moment.
Mario’s solo
Before the key event of the week the euro came closer to 1.39 area already scared of dangerous territory irritating the monetary authorities. Thursday has come, and the ECB meeting is on the agenda today. While we don’t expect any policy changes this time, we still expect some verbal interventions from Mr. Draghi. The pair is still above 1.39 area, and hardly the monetary authorities are satisfied with the current levels. Any comments on the risks related to expensive national currency will send the pair tumbling below 1.39 with initial target at 1.3870 support level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3919, with support below at 1.3900, 1.3889 and 1.3870, with resistance above at 1.3930, 1.3949, and 1.3960. Hourly Moving Averages are bullish, with the 200SMA at 1.3871 and the daily 20EMA at 1.3842. Hourly RSI is bullish at 51.
Mario’s solo
Before the key event of the week the euro came closer to 1.39 area already scared of dangerous territory irritating the monetary authorities. Thursday has come, and the ECB meeting is on the agenda today. While we don’t expect any policy changes this time, we still expect some verbal interventions from Mr. Draghi. The pair is still above 1.39 area, and hardly the monetary authorities are satisfied with the current levels. Any comments on the risks related to expensive national currency will send the pair tumbling below 1.39 with initial target at 1.3870 support level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3919, with support below at 1.3900, 1.3889 and 1.3870, with resistance above at 1.3930, 1.3949, and 1.3960. Hourly Moving Averages are bullish, with the 200SMA at 1.3871 and the daily 20EMA at 1.3842. Hourly RSI is bullish at 51.