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30 May 2014
EUR/USD ignores the data, holds 1.36 support
FXStreet (Moscow) - EUR/USD opened the day at 1.3601, and since that time showed 10-pip moves at maximum.
Bouncing on 1.36
The released today data out of Germany confirmed that retail sales are still volatile, as yearly numbers came out above expectations (3.4% vs. 1.5%), and monthly change was worse than anticipated (-0.9% vs. +0.4%). The pair completely ignored the readings, and was trading close to open levels. The 1.36 area is a strong support level defending the downside for the moment. The month end flows may also support the interest to the single currency during the last trading day of the week. Yesterday we already saw some end of the month dollar longs reduction by reserve managers, and if the scenario is repeated, we may see a move higher with initial target at 1.3624 resistance.
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.
Bouncing on 1.36
The released today data out of Germany confirmed that retail sales are still volatile, as yearly numbers came out above expectations (3.4% vs. 1.5%), and monthly change was worse than anticipated (-0.9% vs. +0.4%). The pair completely ignored the readings, and was trading close to open levels. The 1.36 area is a strong support level defending the downside for the moment. The month end flows may also support the interest to the single currency during the last trading day of the week. Yesterday we already saw some end of the month dollar longs reduction by reserve managers, and if the scenario is repeated, we may see a move higher with initial target at 1.3624 resistance.
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.