13 May 2014
EUR/USD is paralyzed at 1.3757
FXStreet (Moscow) - EUR/USD is trading at 1.3755, somewhere in the middle of its recent narrow range.
Time to think it over
EUR/USD cannot come to life after a neck-breaking fall in the end of the previous week. The pair has been moving within a limited territory of 25 pips since Monday as traders are hesitant to push the single currency lower at this stage. Technically, EUR/USD performed bearish reversal when it failed to go above 1.4000 level, but now it needs new triggers to continue its trip to the North. The nearest calendar risk that may affect market sentiments towards the single currency is German ZEW survey. Analysts expect decent numbers, but the report might be a disappointment due to Ukrainian crisis escalation. Keep an eye at 1.3740 on the downside as the break below will open up the way to 1.3700.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3760, with support below at 1.3745, 1.3742 and 1.3717, with resistance above at 1.3773, 1.3788, and 1.3801. Hourly Moving Averages are bearish, with the 200SMA at 1.3862 and the daily 20EMA at 1.3832. Hourly RSI is bearish at 42.
Time to think it over
EUR/USD cannot come to life after a neck-breaking fall in the end of the previous week. The pair has been moving within a limited territory of 25 pips since Monday as traders are hesitant to push the single currency lower at this stage. Technically, EUR/USD performed bearish reversal when it failed to go above 1.4000 level, but now it needs new triggers to continue its trip to the North. The nearest calendar risk that may affect market sentiments towards the single currency is German ZEW survey. Analysts expect decent numbers, but the report might be a disappointment due to Ukrainian crisis escalation. Keep an eye at 1.3740 on the downside as the break below will open up the way to 1.3700.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3760, with support below at 1.3745, 1.3742 and 1.3717, with resistance above at 1.3773, 1.3788, and 1.3801. Hourly Moving Averages are bearish, with the 200SMA at 1.3862 and the daily 20EMA at 1.3832. Hourly RSI is bearish at 42.