8 Jan 2014
EUR/USD spiking on a bounce
FXstreet.com (Guatemala) - EUR/USD has continued higher from the bounce and looks to be approaching 1.3593 resistance.
EUR/USD dropped into the 1.3550’s post the minutes from the FOMC but has recovered that drop on a bounce which has been rumoured on the chatter as bids protecting a barrier at 1.3550. The dollar has been generally firm on the day, clearing stops below 1.3600 but there has been little conviction while the markets await further tell-tale signs from the forthcoming key fundamentals later in the week on the calendar. The ECB press conference will be closely monitored tomorrow and there after comes the Non Farm Payrolls on Friday.
EUR/USD Levels
The 20 DMA is 1.3706, the 50 DMA is 1.3609 and the 200 DMA is 1.3325. RSI (14) reads 40.02. Supports are ascending from 1.3490, 1.3525, Spot is 1.3581 while resistances are 1.3593, 1.3657, 1.3680, 1.3729 and 1.3743.
EUR/USD dropped into the 1.3550’s post the minutes from the FOMC but has recovered that drop on a bounce which has been rumoured on the chatter as bids protecting a barrier at 1.3550. The dollar has been generally firm on the day, clearing stops below 1.3600 but there has been little conviction while the markets await further tell-tale signs from the forthcoming key fundamentals later in the week on the calendar. The ECB press conference will be closely monitored tomorrow and there after comes the Non Farm Payrolls on Friday.
EUR/USD Levels
The 20 DMA is 1.3706, the 50 DMA is 1.3609 and the 200 DMA is 1.3325. RSI (14) reads 40.02. Supports are ascending from 1.3490, 1.3525, Spot is 1.3581 while resistances are 1.3593, 1.3657, 1.3680, 1.3729 and 1.3743.