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19 May 2014
EUR/USD bulls hope dies last
FXStreet (Moscow) - EUR/USD is trying hard to settle above 1.3700 level, the pair managed to set current Asian high at 1.3710, but the bulls need to overcome Friday’s high at 1.3719 to initiate further upside.
Short rebound before a new rush to the South
EURUSD ended the second consecutive week in decline and touched new multi-month lows at 1.3648. Though it managed to finish the week marginally below 1.3700, the sentiments towards EUR has obviously changed for the worse. As the European calendar is next to empty today, the pair may stage an upside correction, though it would be limited by 1.3745/55 where medium offers are clustered. Mersh and Coeure from ECB are speaking today, and it is quite possible that they will support Draghi’s signal of easing in June. This will put the single currency under pressure and the pivotal support of 1.3700 might be attacked once again. If it is firmly broken, the pair could extend the downside to 1.3680 and then to May 15 low at 1.3648.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3702, with support below at 1.3676, 1.3659 and 1.3633, with resistance above at 1.3719, 1.3745, and 1.3762. Hourly Moving Averages are mixed, with the 200SMA at 1.3784 and the daily 20EMA at 1.3790. Hourly RSI is bullish at 54.
Short rebound before a new rush to the South
EURUSD ended the second consecutive week in decline and touched new multi-month lows at 1.3648. Though it managed to finish the week marginally below 1.3700, the sentiments towards EUR has obviously changed for the worse. As the European calendar is next to empty today, the pair may stage an upside correction, though it would be limited by 1.3745/55 where medium offers are clustered. Mersh and Coeure from ECB are speaking today, and it is quite possible that they will support Draghi’s signal of easing in June. This will put the single currency under pressure and the pivotal support of 1.3700 might be attacked once again. If it is firmly broken, the pair could extend the downside to 1.3680 and then to May 15 low at 1.3648.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3702, with support below at 1.3676, 1.3659 and 1.3633, with resistance above at 1.3719, 1.3745, and 1.3762. Hourly Moving Averages are mixed, with the 200SMA at 1.3784 and the daily 20EMA at 1.3790. Hourly RSI is bullish at 54.