11 Apr 2014
EUR/USD is on the verge of 1.39, no clues from Germany
FXStreet (Moscow) - EUR/USD ticked higher to reach new 3-week high 1.3896 from the open at 1.3886; it trades at by the moment.
Nothing from Germany
After a weaker than expected CPI numbers from France, the Netherlands, and Greece the market attention focused on the released today German CPI report. Although traditionally the final data is completely ignored by the investors, the recent comments from the ECB officials pointing at the importance of the April inflation numbers put the German data under close scrutiny. Nevertheless, the final reading of March German HICP 0.9% came out as expected, thus leaving the pair without new catalysts again. Still we expect some mild profit-taking before the end of the week with initial target at 1.3847 support level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3874, with support below at 1.3847, 1.3809 and 1.3782, with resistance above at 1.3912, 1.3939, and 1.3977. Hourly Moving Averages are bullish, with the 200SMA at 1.3779 and the daily 20EMA bullish at 1.3795. Hourly RSI is bullish at 68.
Nothing from Germany
After a weaker than expected CPI numbers from France, the Netherlands, and Greece the market attention focused on the released today German CPI report. Although traditionally the final data is completely ignored by the investors, the recent comments from the ECB officials pointing at the importance of the April inflation numbers put the German data under close scrutiny. Nevertheless, the final reading of March German HICP 0.9% came out as expected, thus leaving the pair without new catalysts again. Still we expect some mild profit-taking before the end of the week with initial target at 1.3847 support level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3874, with support below at 1.3847, 1.3809 and 1.3782, with resistance above at 1.3912, 1.3939, and 1.3977. Hourly Moving Averages are bullish, with the 200SMA at 1.3779 and the daily 20EMA bullish at 1.3795. Hourly RSI is bullish at 68.