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28 Feb 2014
EUR/USD is on the way to yesterday’s lows
FXStreet (Moscow) - EUR/USD shows some retracement from the overnight high at 1.3726 reaching 1.3696 by now.
CPI data will determine the euro fate
The pair has all the chances to go on with the slide as today the EMU CPI data is scheduled for release. As we already now, German numbers came out lower than expected on Thursday, putting the euro under mild pressure. If country-wide index comes out below forecasts, it will raise the chances of the ECB easing on March, 6. Thus, the pair may see some sell-off upon the release. If 1.37 round level is broken, the move down will speed up with the nearest target at 1.3659 support level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3693, with support below at 1.3659, 1.3607, and 1.3573, with resistance above at 1.3745, 1.3779, and 1.3831. Hourly Moving Averages are largely bearish, with the 200SMA at 1.3725 and the daily 20EMA flat at 1.3681. Hourly RSI is neutral at 50.
CPI data will determine the euro fate
The pair has all the chances to go on with the slide as today the EMU CPI data is scheduled for release. As we already now, German numbers came out lower than expected on Thursday, putting the euro under mild pressure. If country-wide index comes out below forecasts, it will raise the chances of the ECB easing on March, 6. Thus, the pair may see some sell-off upon the release. If 1.37 round level is broken, the move down will speed up with the nearest target at 1.3659 support level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3693, with support below at 1.3659, 1.3607, and 1.3573, with resistance above at 1.3745, 1.3779, and 1.3831. Hourly Moving Averages are largely bearish, with the 200SMA at 1.3725 and the daily 20EMA flat at 1.3681. Hourly RSI is neutral at 50.