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21 May 2014
EUR/USD pushed off 1.3700 pivot
FXStreet (Moscow) - EUR/USD sets new intraday high at 1.3715 as European traders join the game
Time to look around for catalysts
Although the pair made some attempts to break below 1.37 on the EUR/GBP moves yesterday, the plan didn’t materialize supporting the recovery back above the mentioned level. The pair looks quite popular despite the countless attempts to calm the bulls down. The recent comments from the ECB's Liikanen on the possibility of forward guidance strengthening or securities buying in case of deflation risk increase were completely ignored by the market. Another day of scarce EMU data may leave the market dependant on the UK reports, as we saw it yesterday. Stronger than expected British Retail Sales may pressure the EUR/GBP cross, thus triggering another wave of slide down with initial target at 1.3680 support level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3698, with support below at 1.3680, 1.3660 and 1.3642, with resistance above at 1.3718, 1.3736, and 1.3756. Hourly Moving Averages are mostly bearish, with the 200SMA at 1.3734 and the daily 20EMA at 1.3774. Hourly RSI is bullish at 50.
Time to look around for catalysts
Although the pair made some attempts to break below 1.37 on the EUR/GBP moves yesterday, the plan didn’t materialize supporting the recovery back above the mentioned level. The pair looks quite popular despite the countless attempts to calm the bulls down. The recent comments from the ECB's Liikanen on the possibility of forward guidance strengthening or securities buying in case of deflation risk increase were completely ignored by the market. Another day of scarce EMU data may leave the market dependant on the UK reports, as we saw it yesterday. Stronger than expected British Retail Sales may pressure the EUR/GBP cross, thus triggering another wave of slide down with initial target at 1.3680 support level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3698, with support below at 1.3680, 1.3660 and 1.3642, with resistance above at 1.3718, 1.3736, and 1.3756. Hourly Moving Averages are mostly bearish, with the 200SMA at 1.3734 and the daily 20EMA at 1.3774. Hourly RSI is bullish at 50.