Back
22 Apr 2014
EUR/USD bounced back and forth, and hobbled back to 1.38
FXStreet (Moscow) - EUR/USD came under pressure sliding down to 1.3784 session low, but the buyers’ interest threw it back to 1.38 area soon.
Germany suffers
The pair came under bout of speculative selling on the back of empty economic calendar, but buyers’ interest is still out there, and helped to recover the losses. Nevertheless, the move lower is not ruled out given the high levels of the single currency which are damaging Germany export. If the released this week PMI numbers from the largest European economy prove the further slowing of the manufacturing activity, the pair may target 1.3776 support level followed by 1.3758. As for today, all the eyes are on the US housing data, with negative reading may lend some support to the euro with initial target at 1.3821.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3803, with support below at 1.3776, 1.3758 and 1.3731, with resistance above at 1.3821, 1.3848, and 1.3866. Hourly Moving Averages are mostly bearish, with the 200SMA at 1.3834 and the daily 20EMA neutral at 1.3806. Hourly RSI is bearish at 38.
Germany suffers
The pair came under bout of speculative selling on the back of empty economic calendar, but buyers’ interest is still out there, and helped to recover the losses. Nevertheless, the move lower is not ruled out given the high levels of the single currency which are damaging Germany export. If the released this week PMI numbers from the largest European economy prove the further slowing of the manufacturing activity, the pair may target 1.3776 support level followed by 1.3758. As for today, all the eyes are on the US housing data, with negative reading may lend some support to the euro with initial target at 1.3821.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3803, with support below at 1.3776, 1.3758 and 1.3731, with resistance above at 1.3821, 1.3848, and 1.3866. Hourly Moving Averages are mostly bearish, with the 200SMA at 1.3834 and the daily 20EMA neutral at 1.3806. Hourly RSI is bearish at 38.