24 Jul 2014
EUR/USD refreshed 8-month lows in Europe
FXStreet (Moscow) - EUR/USD opened the day at 1.3462, slid to 1.3437, but rebounded a bit by the moment.
Reasons to dive
The pair is still trading around 8-month lows, refreshing it at European open. Empty economic calendar of euro zone during the first days of the week didn’t prevent the single currency from falling down, thus, the scheduled for release today’s PMI data may get special attention, and special reaction. It looks like the market already started to react to it in advance. If readings prove the slowing of German economy, and the third month in a row contraction of French economy, the pair may go closer to 1.34 after 1.3433 support level is broken.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3464, with support below at 1.3454, 1.3443 and 1.3433, with resistance above at 1.3575, 1.3485, and 1.3496. Hourly Moving Averages are bearish, with the 200SMA at 1.3535 and the daily 20EMA bearish at 1.3564. Hourly RSI is bearish at 41.
Reasons to dive
The pair is still trading around 8-month lows, refreshing it at European open. Empty economic calendar of euro zone during the first days of the week didn’t prevent the single currency from falling down, thus, the scheduled for release today’s PMI data may get special attention, and special reaction. It looks like the market already started to react to it in advance. If readings prove the slowing of German economy, and the third month in a row contraction of French economy, the pair may go closer to 1.34 after 1.3433 support level is broken.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3464, with support below at 1.3454, 1.3443 and 1.3433, with resistance above at 1.3575, 1.3485, and 1.3496. Hourly Moving Averages are bearish, with the 200SMA at 1.3535 and the daily 20EMA bearish at 1.3564. Hourly RSI is bearish at 41.