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21 May 2014
EUR/USD is rangebound around 1.3700 pivot
FXStreet (Moscow) - EUR/USD is locked in a narrow 11-pips range early in Asia with current high set at 1.3707 and low at 1.3696.
Still waiting for triggers
EUR/USD plunged to 1.3677 during the European hours on Tuesday, but, obviously, the bears are not ready yet for a decisive breakthrough as the pair returned to 1.3700 by the end of the day. Lack of macroeconomic catalysts left EUR/USD vulnerable to technical and speculative factors. Early in Asia on Wednesday the pair is still confined to narrow 11-pips range, waiting for triggers. European session start might revive the trading activity, but large movements are still unlikely. Euroarea current account report may attract some attention, though these data would hardly be able to become a game-changer for the single currency. The nearest resistance is spotted at 1.3730, while the support lies at 1.3700/1.3680.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3698, with support below at 1.3680, 1.3660 and 1.3642, with resistance above at 1.3718, 1.3736, and 1.3756. Hourly Moving Averages are mostly bearish, with the 200SMA at 1.3734 and the daily 20EMA at 1.3774. Hourly RSI is bullish at 50.
Still waiting for triggers
EUR/USD plunged to 1.3677 during the European hours on Tuesday, but, obviously, the bears are not ready yet for a decisive breakthrough as the pair returned to 1.3700 by the end of the day. Lack of macroeconomic catalysts left EUR/USD vulnerable to technical and speculative factors. Early in Asia on Wednesday the pair is still confined to narrow 11-pips range, waiting for triggers. European session start might revive the trading activity, but large movements are still unlikely. Euroarea current account report may attract some attention, though these data would hardly be able to become a game-changer for the single currency. The nearest resistance is spotted at 1.3730, while the support lies at 1.3700/1.3680.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3698, with support below at 1.3680, 1.3660 and 1.3642, with resistance above at 1.3718, 1.3736, and 1.3756. Hourly Moving Averages are mostly bearish, with the 200SMA at 1.3734 and the daily 20EMA at 1.3774. Hourly RSI is bullish at 50.