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17 Mar 2014
EUR/USD is stable getting institutional support
FXStreet (Barcelona) - EUR/USD opened the day at 1.3903, and since that time showed indecisive moves back and forth, swaying up to 1.3916, and down to 1.3896.
Don’t ignore the CPI
The single currency shows a surprising stability despite the Crimean referendum panic. Even though the worst consequences for the geopolitical stance are already priced in, which may explain the stability of the pair in the morning, there is definitely something, or somebody behind it, and most probably China diversifying away from the USD. Although geopolitical tensions will be in focus during the whole week, some economic data may still be of interest. Today we will see the February EMU CPI release, and given the concern of Draghi about price stability the lower than expected numbers may bring some volatility to the pair with possibility of sell-off with initial target at 1.3862 support level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3900, with support below at 1.3862, 1.3810 and 1.3772, with resistance above at 1.3952, 1.3990, and 1.4042. Hourly Moving Averages are bullish, with the 200SMA at 1.3847 and the daily 20EMA bullish at 1.3793. Hourly RSI is neutral at 51.
Don’t ignore the CPI
The single currency shows a surprising stability despite the Crimean referendum panic. Even though the worst consequences for the geopolitical stance are already priced in, which may explain the stability of the pair in the morning, there is definitely something, or somebody behind it, and most probably China diversifying away from the USD. Although geopolitical tensions will be in focus during the whole week, some economic data may still be of interest. Today we will see the February EMU CPI release, and given the concern of Draghi about price stability the lower than expected numbers may bring some volatility to the pair with possibility of sell-off with initial target at 1.3862 support level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3900, with support below at 1.3862, 1.3810 and 1.3772, with resistance above at 1.3952, 1.3990, and 1.4042. Hourly Moving Averages are bullish, with the 200SMA at 1.3847 and the daily 20EMA bullish at 1.3793. Hourly RSI is neutral at 51.