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27 Feb 2014
EUR/USD stable on 1.37 again ahead of key events
FXStreet (Guatemala) - EUR/USD has recouped from the downward pressures and is back on 1.37 attempting to fend of supply which is accumulating through the 1.3720 territory currently.
EUR/USD dropped from the mid 1.37’s and whether that was gravity playing its natural part or a combination of that and risk aversion and nerves, the pair is in denial as we are moving in closer towards key events this week and next with the forthcoming ECB announcements. “The euro continues to remain relatively stable against the US dollar having failed earlier this week to break above the top of its recent 1.3400 to 1.3800 trading range. The release tomorrow of the latest euro-zone CPI report for February will likely prove an important catalyst for EUR/USD direction in the week ahead," explained FX Strategists at the Bank of Tokyo Mitsubishi UFJ.
EUR/USD Levels
The 20 DMA is 1.3645, the 50 DMA is 1.3649 and the 200 DMA is 1.3431. RSI (14) reads 61.12. Supports are ascending from 1.3598, 1.3620, 1.3637, 1.3658 and 1.3687. Spot is 1.3708 while resistances are 1.3715, 1.3733 and 1.3757.
EUR/USD dropped from the mid 1.37’s and whether that was gravity playing its natural part or a combination of that and risk aversion and nerves, the pair is in denial as we are moving in closer towards key events this week and next with the forthcoming ECB announcements. “The euro continues to remain relatively stable against the US dollar having failed earlier this week to break above the top of its recent 1.3400 to 1.3800 trading range. The release tomorrow of the latest euro-zone CPI report for February will likely prove an important catalyst for EUR/USD direction in the week ahead," explained FX Strategists at the Bank of Tokyo Mitsubishi UFJ.
EUR/USD Levels
The 20 DMA is 1.3645, the 50 DMA is 1.3649 and the 200 DMA is 1.3431. RSI (14) reads 61.12. Supports are ascending from 1.3598, 1.3620, 1.3637, 1.3658 and 1.3687. Spot is 1.3708 while resistances are 1.3715, 1.3733 and 1.3757.