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27 Jan 2014
EUR/USD has a lot to do above 1.37
FXstreet.com (Moscow) - EUR/USD spent the morning within the impressive 15-pip range trading close to the nearest resistance level at 1.3693 central pivot point.
EUR woke up, and don’t want to sleep
The numberless significant comments from Davos last weekend were not able to trigger any interest at the currency market. Nevertheless, EUR/USD pause looks like the calm before a storm. Released last Thursday PMI data gave the pair good impulse, and the way higher though thorny is still real. Now we need to get new catalysts to see new highs. The first one is the US tapering outlook and the nearing FOMC meeting that raises a lot of doubts and rumors. The second one is the EMU economy stance that may be tested by today’s German IFO data. If the Business climate index proves to be better than expected, wait for another move higher with the initial target at 1.3723 resistance level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3693, with support below at 1.3645, 1.3615 and 1.3567, with resistance above at 1.3723, 1.3771, and 1.3801. Hourly Moving Averages are largely bullish, with the 200SMA at 1.3602 and the daily 20EMA bullish at 1.3633. Hourly RSI is neutral at 53.
EUR woke up, and don’t want to sleep
The numberless significant comments from Davos last weekend were not able to trigger any interest at the currency market. Nevertheless, EUR/USD pause looks like the calm before a storm. Released last Thursday PMI data gave the pair good impulse, and the way higher though thorny is still real. Now we need to get new catalysts to see new highs. The first one is the US tapering outlook and the nearing FOMC meeting that raises a lot of doubts and rumors. The second one is the EMU economy stance that may be tested by today’s German IFO data. If the Business climate index proves to be better than expected, wait for another move higher with the initial target at 1.3723 resistance level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3693, with support below at 1.3645, 1.3615 and 1.3567, with resistance above at 1.3723, 1.3771, and 1.3801. Hourly Moving Averages are largely bullish, with the 200SMA at 1.3602 and the daily 20EMA bullish at 1.3633. Hourly RSI is neutral at 53.