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3 Apr 2014
EUR/USD feels nervous around 1.3750
FXStreet (Moscow) - EUR/USD started the day under slight pressure sliding from 1.3766 at the open to 1.3754, coming back to again by the moment.
Will it be something new, or something borrowed?
Today is the X-day for the pair that may determine the pair direction for the medium-term. The ECB meeting and the following Draghi conference will draw the market attention, as there is some possibility to see additional stimulus for the economy. Although the chances to see everything unchanged are quite high, we still may see verbal intervention from Draghi repeating “whatever it takes” mantra, or the ECB launching some nominal program of unsterilized asset purchases in order to prevent the euro from rising closer to line in the sand at 1.40. If any of the mentioned factors materialize, wait for the euro sell-off with initial target at 1.3711 support level followed by 1.3670.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3780, with support below at 1.3739, 1.3711 and 1.3670, with resistance above at 1.3808, 1.3849, and 1.3877. Hourly Moving Averages are bearish, with the 200SMA at 1.3784 and the daily 20EMA flat at 1.3795. Hourly RSI is neutral at 35.
Will it be something new, or something borrowed?
Today is the X-day for the pair that may determine the pair direction for the medium-term. The ECB meeting and the following Draghi conference will draw the market attention, as there is some possibility to see additional stimulus for the economy. Although the chances to see everything unchanged are quite high, we still may see verbal intervention from Draghi repeating “whatever it takes” mantra, or the ECB launching some nominal program of unsterilized asset purchases in order to prevent the euro from rising closer to line in the sand at 1.40. If any of the mentioned factors materialize, wait for the euro sell-off with initial target at 1.3711 support level followed by 1.3670.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3780, with support below at 1.3739, 1.3711 and 1.3670, with resistance above at 1.3808, 1.3849, and 1.3877. Hourly Moving Averages are bearish, with the 200SMA at 1.3784 and the daily 20EMA flat at 1.3795. Hourly RSI is neutral at 35.