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12 Feb 2014
EUR/USD took a slow walk around 1.3630 before jogging to 1.3646
FXStreet (Moscow) - EUR/USD spent all the morning walking around 1.3630 area, but Europe bring new stimulus – sending the pair to 1.3646 high.
Euro left unfocused
EUR/USD was slapped by Yellen’s comments. And it was not in what she said, but in what the market expected. We saw the classic “buy rumors sell fact” move, though there is high possibility of reversal as the investors haven’t finally got the answers they wanted. It’s absolutely clear now the FED doesn’t have the pre-set course of monetary policy, thus any piece of data may be important for assessment. Today the pair will focus more on market sentiment than on economic indicators. The scheduled for release euro zone industrial production hardly will trigger any reaction on the market. Only if the data proves much better than expected, we may see the move higher with initial target at 1.3673 resistance level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3651, with support below at 1.3618, 1.3596 and 1.3563, with resistance above at 1.3673, 1.3706, and 1.3728. Hourly Moving Averages are largely bearish, with the 200SMA at 1.3565 and the daily 20EMA bullish at 1.3607. Hourly RSI is neutral at 38.
Euro left unfocused
EUR/USD was slapped by Yellen’s comments. And it was not in what she said, but in what the market expected. We saw the classic “buy rumors sell fact” move, though there is high possibility of reversal as the investors haven’t finally got the answers they wanted. It’s absolutely clear now the FED doesn’t have the pre-set course of monetary policy, thus any piece of data may be important for assessment. Today the pair will focus more on market sentiment than on economic indicators. The scheduled for release euro zone industrial production hardly will trigger any reaction on the market. Only if the data proves much better than expected, we may see the move higher with initial target at 1.3673 resistance level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3651, with support below at 1.3618, 1.3596 and 1.3563, with resistance above at 1.3673, 1.3706, and 1.3728. Hourly Moving Averages are largely bearish, with the 200SMA at 1.3565 and the daily 20EMA bullish at 1.3607. Hourly RSI is neutral at 38.