8 May 2014
EUR/USD is apprehensive, but still above 1.3900 pivot
FXStreet (Moscow) - EUR/USD rebounded from the support area of 1.3905/00, but the upside momentum is weak.
Day X
EUR/USD retreated from weekly high, but managed to stay above 1.3900. Obviously, it’s the ECB monetary policy decision that makes the day today, but theres is another interesting report that is worth mentioning - German industrial production numbers that are expected to come out at +0.2 m/m in March, +4.4% y/y against +0.4 m/m in March, +4.8% y/y in February. While EZ economy is on mend, sighs of weakness in the largest European economy might create bearish mood ahead of ECB decision. The single currency might be volatile as investors will be positioning ahead of the important event, but the bulls need to keep the pair above 1.3900. If this level is broken, the downside will extend to 1.3850. The upside ahead of ECB may be limited by 1.3940.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3919, with support below at 1.3900, 1.3889 and 1.3870, with resistance above at 1.3930, 1.3949, and 1.3960. Hourly Moving Averages are bullish, with the 200SMA at 1.3871 and the daily 20EMA at 1.3842. Hourly RSI is bullish at 51.
Day X
EUR/USD retreated from weekly high, but managed to stay above 1.3900. Obviously, it’s the ECB monetary policy decision that makes the day today, but theres is another interesting report that is worth mentioning - German industrial production numbers that are expected to come out at +0.2 m/m in March, +4.4% y/y against +0.4 m/m in March, +4.8% y/y in February. While EZ economy is on mend, sighs of weakness in the largest European economy might create bearish mood ahead of ECB decision. The single currency might be volatile as investors will be positioning ahead of the important event, but the bulls need to keep the pair above 1.3900. If this level is broken, the downside will extend to 1.3850. The upside ahead of ECB may be limited by 1.3940.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3919, with support below at 1.3900, 1.3889 and 1.3870, with resistance above at 1.3930, 1.3949, and 1.3960. Hourly Moving Averages are bullish, with the 200SMA at 1.3871 and the daily 20EMA at 1.3842. Hourly RSI is bullish at 51.