10 Feb 2014
EUR/USD is closing morning ‘gap’
FXStreet (Moscow) - EUR/USD opened the week lower at 1.3615, but since that time almost managed to close this 20-pip “gap”.
Euro may appreciate Janet Yellen, especially her dovishness
EUR/USD is trading around 1.3625 without any serious catalysts in store. Despite the mild disappointment from the German Constitutional court that drove the pair 50-pip down on Friday, weak Non-Farm Payrolls did what the euro needed. The two months of weaker than expected numbers may support the case for the same pace of tapering during a longer period of time. Janet Yellen is known by its dovish views, and this factor may also pressure the USD during the first days of the week, thus, supporting the way higher for the pair. To the upside the resistance comes at 1.3672, and followed by 1.3704. The downside is limited by 1.3579 support level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3611, with support below at 1.3579, 1.3518 and 1.3486, with resistance above at 1.3672, 1.3704, and 1.3765. Hourly Moving Averages are largely bullish, with the 200SMA at 1.3565 and the daily 20EMA flat at 1.3599. Hourly RSI is neutral at 65.
Euro may appreciate Janet Yellen, especially her dovishness
EUR/USD is trading around 1.3625 without any serious catalysts in store. Despite the mild disappointment from the German Constitutional court that drove the pair 50-pip down on Friday, weak Non-Farm Payrolls did what the euro needed. The two months of weaker than expected numbers may support the case for the same pace of tapering during a longer period of time. Janet Yellen is known by its dovish views, and this factor may also pressure the USD during the first days of the week, thus, supporting the way higher for the pair. To the upside the resistance comes at 1.3672, and followed by 1.3704. The downside is limited by 1.3579 support level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3611, with support below at 1.3579, 1.3518 and 1.3486, with resistance above at 1.3672, 1.3704, and 1.3765. Hourly Moving Averages are largely bullish, with the 200SMA at 1.3565 and the daily 20EMA flat at 1.3599. Hourly RSI is neutral at 65.