4 Apr 2014
EUR/USD is afraid to go too far away from 1.3700
FXStreet (Moscow) - EUR/USD sits in a very tight range, right above the pivotal support of 1.3700
All eyes on NFP
EUR/USD is drifting lower, but the key 1.3700 is still intact. The bears made an attempt to drive the pair lower but managed only 1.3695. No wonder as there is a sizable $1.3700 strike option set to roll off at today's NY cut. Most likely EUR/USD bears will keep their heads low until the Non Farm payroll numbers as it is a big risk event that may trigger large market movements. Technically, the pair needs to break below 1.3670 - this is a long-term unpaid trend line on weekly charts - to confirm that the long-term bearish momentum is gathering pace. If EUR/USD finishes the week above the said level, the pair will continue oscillating within a large range.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3742, with support below at 1.3676, 1.3633 and 1.3567, with resistance above at 1.3785, 1.3851, and 1.3894. Hourly Moving Averages are bearish, with the 200SMA at 1.3776 and the daily 20EMA flat at 1.3788. Hourly RSI is neutral at
All eyes on NFP
EUR/USD is drifting lower, but the key 1.3700 is still intact. The bears made an attempt to drive the pair lower but managed only 1.3695. No wonder as there is a sizable $1.3700 strike option set to roll off at today's NY cut. Most likely EUR/USD bears will keep their heads low until the Non Farm payroll numbers as it is a big risk event that may trigger large market movements. Technically, the pair needs to break below 1.3670 - this is a long-term unpaid trend line on weekly charts - to confirm that the long-term bearish momentum is gathering pace. If EUR/USD finishes the week above the said level, the pair will continue oscillating within a large range.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3742, with support below at 1.3676, 1.3633 and 1.3567, with resistance above at 1.3785, 1.3851, and 1.3894. Hourly Moving Averages are bearish, with the 200SMA at 1.3776 and the daily 20EMA flat at 1.3788. Hourly RSI is neutral at