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18 Mar 2014
EUR/USD is on the way to multi-year highs
FXStreet (Moscow) - EUR/USD opened the day at 1.3920, and showed some limited moves up reaching 1,3937 session high, and trading around 1.3930 area at the moment.
German data - 4th month’s a charm?
The pair is again on the move up to multi-year highs around 1,3960 area. Although the CPI numbers were below expectations yesterday, the pair still finds inner potential to go higher. Or rather somebody else supports that potential diversifying away from USD to EUR, and Draghi will definetly not like it. Today we will get German ZEW data that may prove that economic sentiment keeps decreasing the fourth month in a row. Although the pair is not too sensitive to fundamentals for the moment, we still can expect some sell-off on worse than expected data with initial move to 1.3884 support level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3916, with support below at 1.3884, 1.3845 and 1.3813, with resistance above at 1.3955, 1.3987, and 1.4026. Hourly Moving Averages are bullish, with the 200SMA at 1.3869 and the daily 20EMA bullish at 1.3805. Hourly RSI is neutral at 56.
German data - 4th month’s a charm?
The pair is again on the move up to multi-year highs around 1,3960 area. Although the CPI numbers were below expectations yesterday, the pair still finds inner potential to go higher. Or rather somebody else supports that potential diversifying away from USD to EUR, and Draghi will definetly not like it. Today we will get German ZEW data that may prove that economic sentiment keeps decreasing the fourth month in a row. Although the pair is not too sensitive to fundamentals for the moment, we still can expect some sell-off on worse than expected data with initial move to 1.3884 support level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3916, with support below at 1.3884, 1.3845 and 1.3813, with resistance above at 1.3955, 1.3987, and 1.4026. Hourly Moving Averages are bullish, with the 200SMA at 1.3869 and the daily 20EMA bullish at 1.3805. Hourly RSI is neutral at 56.