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Forex pairs in this Article » EUR/USD
FXstreet.com (Barcelona) - Having declined this morning to post a daily low at 1.3650, EUR/USD has found some life and has climbed to 1.3674, before edging lower to 1.3667 where it is presently trading.

EUR/USD jumps on ECB optimism

With a quiet calendar, and NFP’s ahead, it took commentary from the ECB’s Nowotny and Coeure to put some spring in EUR/USD’s step. Nowotny said that with Euro Zone inflation expectations stable, there was 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, resolution. Nevertheless, the small jump looks to be short lived.

What does EUR/USD sentiment look like?

The hourly OB/OS Index is neutral while the FXstreet.com Trend Index is slightly bearish. The RSI reads 57 at the moment and the ADX is at 30. Presently the 200-period SMA is at 1.3587 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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