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5 Jun 2014
EUR/USD kicks heels before the ECB, above 1.36 again
FXStreet (Moscow) - EUR/USD opened the day at 1.3598, slid to session low at 1.3594, and rebounded to 1.3613 at the moment.
Two-staged moves
The euro is agitated, recovering above 1.36 in expectation of the key events of the day. The day X has come with ECB on the brink of new era of monetary easing. Today the pair may move in two stages, first, reacting to the ECB meeting with a high possibility of lowering of the three key rates; and second, reacting to Draghi comments as only he may present the new non-conventional measures to stimulate economy. Any kind of disappointment with the scope of tools implemented may support the single currency and send it higher with initial target at 1.3627 resistance, followed by 1.3655.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3612, with support below at 1.3594, 1.369 and 1.3541, with resistance above at 1.3627, 1.3655, and 1.3670. Hourly Moving Averages are mostly bearish, with the 200SMA at 1.3619 and the daily 20EMA at 1.3695. Hourly RSI is bearish at 40.
Two-staged moves
The euro is agitated, recovering above 1.36 in expectation of the key events of the day. The day X has come with ECB on the brink of new era of monetary easing. Today the pair may move in two stages, first, reacting to the ECB meeting with a high possibility of lowering of the three key rates; and second, reacting to Draghi comments as only he may present the new non-conventional measures to stimulate economy. Any kind of disappointment with the scope of tools implemented may support the single currency and send it higher with initial target at 1.3627 resistance, followed by 1.3655.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3612, with support below at 1.3594, 1.369 and 1.3541, with resistance above at 1.3627, 1.3655, and 1.3670. Hourly Moving Averages are mostly bearish, with the 200SMA at 1.3619 and the daily 20EMA at 1.3695. Hourly RSI is bearish at 40.