17 Jun 2014
EUR/USD surrendered to 1.3560 after quick fight
FXStreet (Moscow) - EUR/USD made an attempt to question the 1.3580 resistance, but found strong defense, and surrendered to 1.3560 area by the moment.
The euro rise is conditional
The area of support at 1.3530/20 remained intact even despite the yesterday attacks. The rebound closer to 1.36 looked imminent given the overdone nature of the euro weakness, supported by recent CFTC data. However, the key catalyst of recent move up was the report that some ECB officials doubted the need of QE at the current stage. This may become the main condition for further move higher of the euro – every new comment from the monetary authorities calming down the market expectations may help the pair to come back above 1.36.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3555, with support below at 1.3530, 1.3487 and 1.3462, with resistance above at 1.3598, 1.3623, and 1.3666. Hourly Moving Averages are mixed, with the 200SMA at 1.3578 and the daily 20EMA bearish at 1.3618. Hourly RSI is bearish at 48.
The euro rise is conditional
The area of support at 1.3530/20 remained intact even despite the yesterday attacks. The rebound closer to 1.36 looked imminent given the overdone nature of the euro weakness, supported by recent CFTC data. However, the key catalyst of recent move up was the report that some ECB officials doubted the need of QE at the current stage. This may become the main condition for further move higher of the euro – every new comment from the monetary authorities calming down the market expectations may help the pair to come back above 1.36.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3555, with support below at 1.3530, 1.3487 and 1.3462, with resistance above at 1.3598, 1.3623, and 1.3666. Hourly Moving Averages are mixed, with the 200SMA at 1.3578 and the daily 20EMA bearish at 1.3618. Hourly RSI is bearish at 48.