4 Feb 2014
EUR/USD was on the move lower in Asia, but changed the mood
FXStreet (Moscow) - EUR/USD was not a big mover of the session, though we saw some 23-pip slide lower before a rebound to open levels.
EUR was helped by the US ISM
The pair step by step climbed down to session low at 1.3503, and though the move was rather limited, for this time zone we may call it substantial for the euro. Now we see a rebound from the round level to 1.3538 February high, though the upside may be limited. Yesterday could be a hard day for the euro if it were not for Manufacturing PMI and US data weakness. This week brings very important event – the ECB meeting, and though most of economists predict monetary changes in March, some bears believe the regulator may initiate some new stimulus measures already on Thursday. Such expectations may have downside effect on the pair especially amidst today’s empty calendar. To the downside the support comes at 1.3491, and followed by 1.3455. The upside is limited by 1.3550 resistance level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3514, with support below at 1.3491, 1.3455 and 1.3432, with resistance above at 1.3550, 1.3573, and 1.3609. Hourly Moving Averages are bearish, with the 200SMA at 1.3612 and the daily 20EMA bearish at 1.3610. Hourly RSI is neutral at 48.
EUR was helped by the US ISM
The pair step by step climbed down to session low at 1.3503, and though the move was rather limited, for this time zone we may call it substantial for the euro. Now we see a rebound from the round level to 1.3538 February high, though the upside may be limited. Yesterday could be a hard day for the euro if it were not for Manufacturing PMI and US data weakness. This week brings very important event – the ECB meeting, and though most of economists predict monetary changes in March, some bears believe the regulator may initiate some new stimulus measures already on Thursday. Such expectations may have downside effect on the pair especially amidst today’s empty calendar. To the downside the support comes at 1.3491, and followed by 1.3455. The upside is limited by 1.3550 resistance level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3514, with support below at 1.3491, 1.3455 and 1.3432, with resistance above at 1.3550, 1.3573, and 1.3609. Hourly Moving Averages are bearish, with the 200SMA at 1.3612 and the daily 20EMA bearish at 1.3610. Hourly RSI is neutral at 48.