16 Jun 2014
EUR/USD rushed back to 1.3510 area
FXStreet (Moscow) - EUR/USD made a U-turn right after posted session high at 1.3551, and reached 1.3512 low by the moment.
Is the sell-off overdone?
The European open with stocks dropping on Iraq tensions pressed the euro, and made it move lower – in close vicinity to 1.35 support level. However, the area is strongly defended by buyers, and only really significant event may help the pair to break it below. It now rebounded to 1.3520 area, and may spend some time around awaiting the CPI data scheduled for release in an hour. The geopolitical tensions with escalating Russian-Ukraine conflict, and reviving Iraq problems may trigger risk aversive moods in near-term.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3547, with support below at 1.3513, 1.3487 and 1.3453, with resistance above at 1.3573, 1.3607, and 1.3633. Hourly Moving Averages are largely bearish, with the 200SMA at 1.3585 and the daily 20EMA bearish at 1.3622. Hourly RSI is bearish at 49.
Is the sell-off overdone?
The European open with stocks dropping on Iraq tensions pressed the euro, and made it move lower – in close vicinity to 1.35 support level. However, the area is strongly defended by buyers, and only really significant event may help the pair to break it below. It now rebounded to 1.3520 area, and may spend some time around awaiting the CPI data scheduled for release in an hour. The geopolitical tensions with escalating Russian-Ukraine conflict, and reviving Iraq problems may trigger risk aversive moods in near-term.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3547, with support below at 1.3513, 1.3487 and 1.3453, with resistance above at 1.3573, 1.3607, and 1.3633. Hourly Moving Averages are largely bearish, with the 200SMA at 1.3585 and the daily 20EMA bearish at 1.3622. Hourly RSI is bearish at 49.