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Forex pairs in this Article » EUR/USD (Barcelona) - EUR/USD has settled down from ECB led movement and is now range trading between 1.3674-50, and presently at 1.3672.

EUR/USD settles down into range following ECB comments

The ECB’s Nowotny and Coeure caused a stir in EUR/USD this morning, with Nowotny saying that Eurozone inflation expectations were stable, with no need for immediate action, and the recession is over, while Coeure added that there is no strong case for more fiscal centralization beyond banking supervision. However, movement was short lived, with spot losing momentum and settling into a range prior to today’s NFPs.

What does EUR/USD sentiment look like?

The hourly OB/OS Index is neutral while the Trend Index is slightly bullish. The RSI reads 61 at the moment and the ADX is at 27. Presently the 200-period SMA is at 1.3588 and sloping higher while the exponential average closing price for the last 20 days is neutral at 1.3558.

What are today's key levels?

Matt Bacon-Hall of FXBeat comments that resistance for the pair can be seen at “1.3770 Model buy stops commence, 1.3760 Prop offers, 1.3720 buy stops commence for prop accounts, & 1.3680-00 corporate offers”, and support below at “1.3590-00 Corporate bids, 1.3520-30 Macro bids, 1.3490 Sell stops commence, 1.3450-60 option bids. Today’s central pivot point is at 1.3630, with support below at 1.3582 (S1), 1.3495 (S2) and 1.3447 (S3) and resistance above at 1.3717 (R1), 1.3765 (R2) and 1.3852 (R3). The range between 1.3658-3692 is showing several technical levels as clustering there.
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