6 Feb 2014
EUR/USD – last hours before the ECB
FXStreet (Moscow) - EUR/USD retraced to 1.3514 from session high at 1.3539 before showing mild rebound to 1.3525 area.
German factory orders are worth seeing
The pair looks nervous before the ECB meeting, and hardly will it show any big moves during the first half of the European session. Scheduled for release German factory orders most probably will be ignored by the market, though it’s worth paying attention, as the manufacturing activity of the largest European economy is crucial for the future of the whole region. But today all eyes on Draghi – any dovish comments may put the pair under pressure. To the downside the support comes at 1.3473 and followed by 1.3447. The upside is limited by 1.3589 resistance level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3531, with support below at 1.3505, 1.3473 and 1.3447, with resistance above at 1.3563, 1.3589, and 1.3621. Hourly Moving Averages are largely bearish, with the 200SMA at 1.3585 and the daily 20EMA bearish at 1.3595. Hourly RSI is neutral at 49.
German factory orders are worth seeing
The pair looks nervous before the ECB meeting, and hardly will it show any big moves during the first half of the European session. Scheduled for release German factory orders most probably will be ignored by the market, though it’s worth paying attention, as the manufacturing activity of the largest European economy is crucial for the future of the whole region. But today all eyes on Draghi – any dovish comments may put the pair under pressure. To the downside the support comes at 1.3473 and followed by 1.3447. The upside is limited by 1.3589 resistance level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3531, with support below at 1.3505, 1.3473 and 1.3447, with resistance above at 1.3563, 1.3589, and 1.3621. Hourly Moving Averages are largely bearish, with the 200SMA at 1.3585 and the daily 20EMA bearish at 1.3595. Hourly RSI is neutral at 49.