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16 May 2014
EUR/USD took a pause above 1.37
FXStreet (Moscow) - EUR/USD opened the day at 1.3711, edged a few pips higher, but retreated back by the moment.
Fix your profits
The market is torn between the EMU fundamentals and the market sentiment of the USD. The pair has been sold from May, 8, and already lost almost 350 pips. It looks like the pair reached the oversold territory, and the fixation of profit is not ruled out in the near-term. Part of the move could be seen today before the weekend. If so, the move higher may bring the pair to initial resistance level at 1.3746. Nothing of interest from fundamental point of view, leaving the market sentiments as the key driver.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3698, with support below at 1.3661, 1.3612 and 1.3576, with resistance above at 1.3746, 1.3782, and 1.3831. Hourly Moving Averages are mixed, with the 200SMA at 1.3805 and the daily 20EMA at 1.3800. Hourly RSI is bullish at 58.
Fix your profits
The market is torn between the EMU fundamentals and the market sentiment of the USD. The pair has been sold from May, 8, and already lost almost 350 pips. It looks like the pair reached the oversold territory, and the fixation of profit is not ruled out in the near-term. Part of the move could be seen today before the weekend. If so, the move higher may bring the pair to initial resistance level at 1.3746. Nothing of interest from fundamental point of view, leaving the market sentiments as the key driver.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3698, with support below at 1.3661, 1.3612 and 1.3576, with resistance above at 1.3746, 1.3782, and 1.3831. Hourly Moving Averages are mixed, with the 200SMA at 1.3805 and the daily 20EMA at 1.3800. Hourly RSI is bullish at 58.