21 Mar 2014
EUR/USD is inching higher…so far
FXStreet (Moscow) - EUR/USD started the day at 1.3779, and most of Asia spent in coma, showing the rise to 1.3790 by the Europe open.
The EU may do as the USA did
The pair got slashed by aggressive Merkel comments, positive US data, and correction after a prolonged buying, and the latter is probably the most important factor. Nevertheless, the sell-off of the pair may be resumed in case we will finally get new developments in “Sanctions Against Russia” case. If the measures will refer not only to individuals but some economic sectors, it may bring the pair back to 1.3735 support level. The USA already expanded the list including the “Rossia” bank, and is planning some sanctions against machinery and other key industries of Russia. The Russian stock market reacted negatively to the news, and not it’s the EU turn.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3791, with support below at 1.3735, 1.3693 and 1.3637, with resistance above at 1.3833, 1.3889, and 1.3931. Hourly Moving Averages are bearish, with the 200SMA at 1.3880 and the daily 20EMA flat at 1.3815. Hourly RSI is neutral at 40.
The EU may do as the USA did
The pair got slashed by aggressive Merkel comments, positive US data, and correction after a prolonged buying, and the latter is probably the most important factor. Nevertheless, the sell-off of the pair may be resumed in case we will finally get new developments in “Sanctions Against Russia” case. If the measures will refer not only to individuals but some economic sectors, it may bring the pair back to 1.3735 support level. The USA already expanded the list including the “Rossia” bank, and is planning some sanctions against machinery and other key industries of Russia. The Russian stock market reacted negatively to the news, and not it’s the EU turn.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3791, with support below at 1.3735, 1.3693 and 1.3637, with resistance above at 1.3833, 1.3889, and 1.3931. Hourly Moving Averages are bearish, with the 200SMA at 1.3880 and the daily 20EMA flat at 1.3815. Hourly RSI is neutral at 40.