Back
11 Mar 2014
EUR/USD challenge is 1.3900
FXStreet (Guatemala) - EUR/USD is bobbing along within a tight channel between the 1.3860’s and 1.3900, with more emphasis to the downside post Fridays highs and Asia selling yesterday.
Sean Callow, analyst at Westpac Banking Corporation ABN explained that EUR/USD chopped slightly lower in quiet trade, to 1.3875. Eurozone investor confidence rose by slightly less than expected while the Cyprus CB governor resigned after months of feuding with the government. Meanwhile, Eric Theoret, Currency Strategist at Scotiabank noted that this week’s release schedule is relatively quiet, however for he said the headline risks revolves around the euro area finance ministers’ as officials discuss the bank resolution mechanism and adding,“EUR/USD short-term technicals: bullish—all indicators are broadly bullish, near term gains appear to be challenged above 1.3900, with support at 1.3850”.
EUR/USD Levels
The 20 DMA is 1.3726, the 50 DMA is 1.3663 and the 200 DMA is 1.3461. RSI (14) reads 47.30. supports are ascending from 1.3775, 1.3808, 1.3825 and 1.3853. Spot is 1.3876 while resistances are 1.3891, 1.3915, 1.3940 and 1.3979.
Sean Callow, analyst at Westpac Banking Corporation ABN explained that EUR/USD chopped slightly lower in quiet trade, to 1.3875. Eurozone investor confidence rose by slightly less than expected while the Cyprus CB governor resigned after months of feuding with the government. Meanwhile, Eric Theoret, Currency Strategist at Scotiabank noted that this week’s release schedule is relatively quiet, however for he said the headline risks revolves around the euro area finance ministers’ as officials discuss the bank resolution mechanism and adding,“EUR/USD short-term technicals: bullish—all indicators are broadly bullish, near term gains appear to be challenged above 1.3900, with support at 1.3850”.
EUR/USD Levels
The 20 DMA is 1.3726, the 50 DMA is 1.3663 and the 200 DMA is 1.3461. RSI (14) reads 47.30. supports are ascending from 1.3775, 1.3808, 1.3825 and 1.3853. Spot is 1.3876 while resistances are 1.3891, 1.3915, 1.3940 and 1.3979.