Filed Under:
Forex pairs in this Article » EUR/USD
FXStreet (Moscow) - EUR/USD started the day within 14-pips range and narrowed it to 10-pips by now.

How long will Germany be an engine?

The Ukrainian syndrome keeps markets jittery, and the narrowing range is a signal for the sharp breakout coming soon. The pair is trading at 1.3735 right now, and tries to find a catalyst to determine the direction. This week promises to be very interesting for the euro given a number of releases that have potential to effect the ECB policy course. Today we will see German Ifo Business Climate index that may prove again that the country is in good shape, and is ready to carry the rest of Europe on its shoulders. Euro zone CPI numbers are also worth seeing as the slowing inflation may be the key factor for the ECB to ease further. If both numbers surprise to the upside, wait for another move higher with initial target at 1.3764 resistance level.

What are today’s key EUR/USD levels?

Today's central pivot point can be found at 1.3733, with support below at 1.3706, 1.3675 and 1.3648, with resistance above at 1.3764, 1.3791, and 1.3822. Hourly Moving Averages are bullish, with the 200SMA at 1.3697 and the daily 20EMA bullish at 1.3664. Hourly RSI is neutral at 56.
comments powered by Disqus