7 Feb 2014
EUR/USD still can get some fuel before the American session
FXStreet (Moscow) - EUR/USD is retracing to 1.3551 low from the recent highs posted on Draghi comments.
German industrial production is worth seeing
The pair is under pressure due to practically empty EMU calendar and positioning before the American labor data. During European session we will see German industrial production. Although the market is already focused on the Non-Farm Payrolls, still it’s worth paying attention to the manufacturing activity within the largest European economy being the locomotive of the euro zone countries. If data prove to be better than expected, it may give some mild support to the pair before American session. The initial target in this case may be at 1.3647 resistance. The downside is limited to 1.3565 support level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3565, with support below at 1.3509, 1.3427 and 1.3371, with resistance above at 1.3647, 1.3703, and 1.3785. Hourly Moving Averages are largely bullish, with the 200SMA at 1.3572 and the daily 20EMA flat at 1.3595. Hourly RSI is neutral at 49.
German industrial production is worth seeing
The pair is under pressure due to practically empty EMU calendar and positioning before the American labor data. During European session we will see German industrial production. Although the market is already focused on the Non-Farm Payrolls, still it’s worth paying attention to the manufacturing activity within the largest European economy being the locomotive of the euro zone countries. If data prove to be better than expected, it may give some mild support to the pair before American session. The initial target in this case may be at 1.3647 resistance. The downside is limited to 1.3565 support level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3565, with support below at 1.3509, 1.3427 and 1.3371, with resistance above at 1.3647, 1.3703, and 1.3785. Hourly Moving Averages are largely bullish, with the 200SMA at 1.3572 and the daily 20EMA flat at 1.3595. Hourly RSI is neutral at 49.