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Forex pairs in this Article » EUR/USD
FXstreet.com (Moscow) - EUR/USD is still under mild pressure trading at the bottom of tight 20-pip morning range 1.3646-1.3666.

EUR may change its preferences

The morning moves of the pair are quiet boring, and directionless. We thought yesterday would be all about the FOMC and tapering, and in reality it was all about the EM panic, and future of the RATS (Russia, Argentina, Turkey, and South Africa). The pair got under pressure due to riskier nature of euro vs buck, and the FED decision to taper QE3 by another 10 bln was completely ignored by the traders. Today the pair may turn its eyes to EMU economic data. The scheduled for release German CPI and labor reports may present some positive surprises, thus supporting the demand on the single currency. In that case the initial target may be at 1.394 resistance level. To the downside the support comes at 1.3611 and followed by 0.8565.

What are today’s key EUR/USD levels?

Today's central pivot point can be found at 1.3648, with support below at 1.3611, 1.3565 and 1.3528, with resistance above at 1.3694, 1.3731, and 1.3777. Hourly Moving Averages are largely bearish, with the 200SMA at 1.3617 and the daily 20EMA flat at 1.3641. Hourly RSI is neutral at 46.
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