11 Jul 2014
EUR/USD is in cozy 1.36 area, ignoring German CPI
FXStreet (Moscow) - EUR/USD opened the day at 1.3607, edged lower to 1.3595, but rebounded back above 1.36 at the moment.
Portuguese factor
The euro returned to cozy 1.36 area, and is trying to break below the level on expectations of another page of sovereign debt crises with Portugal being the major scene. If Banco Espirito Santo defaults, it will have to ask for help from the central bank. And there were rumors yesterday that the talk with the regulator has already occurred. Portuguese economy is larger than the Greek one, so draw your own conclusions… As for today data German CPI came out as expected, and was practically ignored by the market.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3617, with support below at 1.3581, 1.3554 and 1.3518, with resistance above at 1.3644, 1.3680, and 1.3707. Hourly Moving Averages are bearish, with the 200SMA at 1.3629 and the daily 20EMA flat at 1.3622. Hourly RSI is bullish at 38.
Portuguese factor
The euro returned to cozy 1.36 area, and is trying to break below the level on expectations of another page of sovereign debt crises with Portugal being the major scene. If Banco Espirito Santo defaults, it will have to ask for help from the central bank. And there were rumors yesterday that the talk with the regulator has already occurred. Portuguese economy is larger than the Greek one, so draw your own conclusions… As for today data German CPI came out as expected, and was practically ignored by the market.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3617, with support below at 1.3581, 1.3554 and 1.3518, with resistance above at 1.3644, 1.3680, and 1.3707. Hourly Moving Averages are bearish, with the 200SMA at 1.3629 and the daily 20EMA flat at 1.3622. Hourly RSI is bullish at 38.