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30 May 2014
EUR/USD is sidelined marginally above the support of 1.3600
FXStreet (Moscow) - EUR/USD is sitting in a narrow 15-pips range close to the pivotal support of 1.3600 in Asia, waiting for macroeconomic triggers
Акуыр food for though for EUR
At last, something fundamentally interesting about EUR. German retails sales data is the major macroeconomic event today in Europe. The report is expected to show a substantial improvement to 0.2% m/m, 1.5% y/y in April against dismal 0.15 m/m, -1.1% y/y in March. Sure enough, the market is fixated on possible ECB easing in June, but positive retail sales data might trigger some upside correction ahead of the weekend. In this case the initial resistance of 1.3630 might be tested. Once it is broken, the upside will extend to 1.3670. The support is seen at 1.3600/95.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3605, with support below at 1.3582, 1.3563 and 1.3540, with resistance above at 1.3624, 1.3647, and 1.3666. Hourly Moving Averages are mostly bearish, with the 200SMA at 1.3650 and the daily 20EMA at 1.3702. Hourly RSI is bearish at 48.
Акуыр food for though for EUR
At last, something fundamentally interesting about EUR. German retails sales data is the major macroeconomic event today in Europe. The report is expected to show a substantial improvement to 0.2% m/m, 1.5% y/y in April against dismal 0.15 m/m, -1.1% y/y in March. Sure enough, the market is fixated on possible ECB easing in June, but positive retail sales data might trigger some upside correction ahead of the weekend. In this case the initial resistance of 1.3630 might be tested. Once it is broken, the upside will extend to 1.3670. The support is seen at 1.3600/95.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3605, with support below at 1.3582, 1.3563 and 1.3540, with resistance above at 1.3624, 1.3647, and 1.3666. Hourly Moving Averages are mostly bearish, with the 200SMA at 1.3650 and the daily 20EMA at 1.3702. Hourly RSI is bearish at 48.