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23 May 2014
EUR/USD bears take a breath ahead of European session
FXStreet (Moscow) - EUR/USD touched the local support at 1.3640, but managed to reverse some losses. Currently, the pair is trading at 1.3649
Bears are unstoppable
EUR/USD plunged to the support of 1.3640/48 on Thursday, getting ready for the third consecutive week of decline. Investors are pricing in the ECB’s rate cut during the next monetary policy meeting, while EU elections scheduled for this weekend add sense of risk. The pair started Friday on a minor note and the bearish sentiments might increase when the European players join the game. From the technical point of view, 1.3640 support is likely to cap the downside during the Asian session, though, once we are below it, the next key support coupled with 200-day MA at 1.3622 will come into play. The upside correction is likely to be limited by 1.3690.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3663, with support below at 1.3637, 1.3618 and 1.3592, with resistance above at 1.3682, 1.3708, and 1.3727. Hourly Moving Averages are bearish, with the 200SMA at 1.3703 and the daily 20EMA at 1.3726. Hourly RSI is bearish at 37.
Bears are unstoppable
EUR/USD plunged to the support of 1.3640/48 on Thursday, getting ready for the third consecutive week of decline. Investors are pricing in the ECB’s rate cut during the next monetary policy meeting, while EU elections scheduled for this weekend add sense of risk. The pair started Friday on a minor note and the bearish sentiments might increase when the European players join the game. From the technical point of view, 1.3640 support is likely to cap the downside during the Asian session, though, once we are below it, the next key support coupled with 200-day MA at 1.3622 will come into play. The upside correction is likely to be limited by 1.3690.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3663, with support below at 1.3637, 1.3618 and 1.3592, with resistance above at 1.3682, 1.3708, and 1.3727. Hourly Moving Averages are bearish, with the 200SMA at 1.3703 and the daily 20EMA at 1.3726. Hourly RSI is bearish at 37.