14 Mar 2014
EUR/USD – is it all over?
FXStreet (Moscow) - EUR/USD is still on the move down starting the day at 1.3857, reaching 1.3877 morning high and sliding to 1.3847 session low close to which it is trading now.
Stay away from 1.39 – Draghi’s message
Draghi’s words about deflation, and risks to price stability brought the euro back to earth. It looks like the upside of the pair will be limited by 1.39 not only from technical side, but from official position of the ECB. The appreciating single currency puts the German export, namely, German growth under pressure. And since Germany stands at the core of the EMU prosperity, the reasons to stay away from 1.39 level are quite solid. Today risk aversion may put the pair under additional pressure with initial target at 1.3819 followed by 1.3769.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3893, with support below at 1.3819, 1.3769 and 1.3695, with resistance above at 1.3943, 1.4017, and 1.4067. Hourly Moving Averages are bullish, with the 200SMA at 1.3780 and the daily 20EMA at 1.3831. Hourly RSI is neutral at 36.
Stay away from 1.39 – Draghi’s message
Draghi’s words about deflation, and risks to price stability brought the euro back to earth. It looks like the upside of the pair will be limited by 1.39 not only from technical side, but from official position of the ECB. The appreciating single currency puts the German export, namely, German growth under pressure. And since Germany stands at the core of the EMU prosperity, the reasons to stay away from 1.39 level are quite solid. Today risk aversion may put the pair under additional pressure with initial target at 1.3819 followed by 1.3769.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3893, with support below at 1.3819, 1.3769 and 1.3695, with resistance above at 1.3943, 1.4017, and 1.4067. Hourly Moving Averages are bullish, with the 200SMA at 1.3780 and the daily 20EMA at 1.3831. Hourly RSI is neutral at 36.