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21 Feb 2014
EUR/USD is left motionless at 1.3715
FXStreet (Moscow) - EUR/USD froze around 1.3715 swaying just couple of pips back and forward.
How long will Germany be an engine?
After a disappointing Thursday the pair is having a rest at 1.3715. The PMI data didn’t kill the hope for another monetary easing delay from the ECB, but wounded it. The terrible numbers out of France say that the country is still balancing on the edge of recession, and the weaker than expected German Manufacturing PMI raised the concerns that the country cannot be the engine of the whole region for so long. This understanding only supports the current weakness of the pair, and given the barren economic calendar we may see the further drifting to the south with initial target at 1.3682 support level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3722, with support below at 1.3682, 1.3644 and 1.3604, with resistance above at 1.3760, 1.38, and 1.3838. Hourly Moving Averages are bullish, with the 200SMA at 1.3690 and the daily 20EMA bullish at 1.3657. Hourly RSI is neutral at 46.
How long will Germany be an engine?
After a disappointing Thursday the pair is having a rest at 1.3715. The PMI data didn’t kill the hope for another monetary easing delay from the ECB, but wounded it. The terrible numbers out of France say that the country is still balancing on the edge of recession, and the weaker than expected German Manufacturing PMI raised the concerns that the country cannot be the engine of the whole region for so long. This understanding only supports the current weakness of the pair, and given the barren economic calendar we may see the further drifting to the south with initial target at 1.3682 support level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3722, with support below at 1.3682, 1.3644 and 1.3604, with resistance above at 1.3760, 1.38, and 1.3838. Hourly Moving Averages are bullish, with the 200SMA at 1.3690 and the daily 20EMA bullish at 1.3657. Hourly RSI is neutral at 46.