5 May 2014
EUR/USD goes back home at 1.3880
FXStreet (Moscow) - EUR/USD opened the day at 1.3884, slid to 1.3864 in Asia, and recovered to 1.3880 area by the moment.
Europe-oriented trades
This week is expected to be more Europe-oriented, as there are many interesting EMU reports in store with the ECB meeting followed by Draghi press conference in focus. Although the pair is trading not far from 1.39 area, the chances to see retracement are quite high, as we know the central bank chairman is not satisfied with the strong euro. Today the EMU PPI report may be of interest as we may use it as a leading indicator of consumer price index. If the readings confirm the further development of deflationary process, it may put the pair under pressure with initial target at 1.3855 support level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3855, with support below at 1.3827, 1.3785 and 1.3757, with resistance above at 1.3897, 1.3925, and 1.3967. Hourly Moving Averages are bullish, with the 200SMA at 1.3841 and the daily 20EMA at 1.3829. Hourly RSI is bullish at 56.
Europe-oriented trades
This week is expected to be more Europe-oriented, as there are many interesting EMU reports in store with the ECB meeting followed by Draghi press conference in focus. Although the pair is trading not far from 1.39 area, the chances to see retracement are quite high, as we know the central bank chairman is not satisfied with the strong euro. Today the EMU PPI report may be of interest as we may use it as a leading indicator of consumer price index. If the readings confirm the further development of deflationary process, it may put the pair under pressure with initial target at 1.3855 support level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3855, with support below at 1.3827, 1.3785 and 1.3757, with resistance above at 1.3897, 1.3925, and 1.3967. Hourly Moving Averages are bullish, with the 200SMA at 1.3841 and the daily 20EMA at 1.3829. Hourly RSI is bullish at 56.