4 Apr 2014
EUR/USD is peeping through 1.37, looking for new lows
FXStreet (Moscow) - EUR/USD started the day at 1.3719, and since that time drifted lower peeping below 1.37 by the moment.
Gloomy picture by Draghi as an artist
The pair managed to refreshes monthly low at 1.3695, and shows the desire to move further. The ECB meeting disappointed the traders although the regulator left everything unchanged. The key were the comments of Draghi who was very expressive in describing all the ways the central bank may stimulate the economy. Moreover, he even mentioned the possibility of stagnation developing in the region, and it was probably the last drop that triggered the broad euro sell-off helping to reach monthly low at 1.3697 yesterday. Although the pair rebounded above 1.37, the move down is still not ruled out, given the dim outlook painted by the monetary authorities. Some buying interest just below is obvious with more at 1.3685 and 1.3650 area. To the downside the initial target is at 1.3676 support level, the rebound back up will be limited by the initial resistance at 1.3742.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3742, with support below at 1.3676, 1.3633 and 1.3567, with resistance above at 1.3785, 1.3851, and 1.3894. Hourly Moving Averages are bearish, with the 200SMA at 1.3776 and the daily 20EMA flat at 1.3788. Hourly RSI is neutral at 28.
Gloomy picture by Draghi as an artist
The pair managed to refreshes monthly low at 1.3695, and shows the desire to move further. The ECB meeting disappointed the traders although the regulator left everything unchanged. The key were the comments of Draghi who was very expressive in describing all the ways the central bank may stimulate the economy. Moreover, he even mentioned the possibility of stagnation developing in the region, and it was probably the last drop that triggered the broad euro sell-off helping to reach monthly low at 1.3697 yesterday. Although the pair rebounded above 1.37, the move down is still not ruled out, given the dim outlook painted by the monetary authorities. Some buying interest just below is obvious with more at 1.3685 and 1.3650 area. To the downside the initial target is at 1.3676 support level, the rebound back up will be limited by the initial resistance at 1.3742.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3742, with support below at 1.3676, 1.3633 and 1.3567, with resistance above at 1.3785, 1.3851, and 1.3894. Hourly Moving Averages are bearish, with the 200SMA at 1.3776 and the daily 20EMA flat at 1.3788. Hourly RSI is neutral at 28.