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Forex pairs in this Article » EUR/USD (Barcelona) - EUR/USD forced its way lower, having repeatedly tested support at 1.3650 yesterday, to post a low since December 6 at 1.3625.

EUR/USD lower, unaffected by BoJ

With Central Bank stimulus the flavour of the market again, traders watched the BoJ’s interest rate decision and policy statement, to see if there would be any adjustments which might reverberate across the market. WIth no change, reaction was muted. With an empty European calendar overnight, the only news this morning has been a downgrade in the credit rating of the European Union from AAA to AA+ and stable by ratings agency S&P. Ahead we have German Gfk Consumer Confidence and PPI at 07:00 GMT, which represents the highlight of a busy but low profile European calendar today.

What are today’s key EUR/USD levels?

Today’s central pivot point sits at 1.3670 which is acting as near term immediate resistance, with spot trading at next support at 1.3635 (S1). The hourly 200 SMA sits at 1.3745 and is sloping lower, alongside the 20D EMA at 1.3668 which is neutral. With the December 6 low at 1.3620 just below price action, sovereign bids have been reported in the region, More bids are reported between 1.3610-00, with stops below the psychological level. Offers can be seen above in front of 1.3700, close to the Daily high of December 18, before resistance at the Tenkan-Sen line at 1.3731.
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