EUR/USD bears are on ready-steady-go position

By FXstreet.com | July 02, 2014 AAA

FXStreet (Moscow) - EUR/USD retreated from the current high of 1.3658 and touched the low of 1.3647 during quiet Asian hours.



What is in store for EUR?



EUR/USD is rangebound with slight bearish bias early on Thursday, before the key EZ event of the month - ECB rate decision and Draghi’s press conference. It is interesting to note that the pair war not influenced by a spectacular EUR rise against AUD. Does it mean that EZ service PMI data and retail sales report will be ignored as well? Obviously, the markets are fixated at ECB meeting, but weak numbers might increase bearish pressure on the pair as it will support the expectations of more dovish ECB stance.



What are today’s key EUR/USD levels?



Today's central pivot point can be found at 1.3661, with support below at 1.3640, 1.3620 and 1.3599, with resistance above at 1.3681, 1.3702, and 1.3722. Hourly Moving Averages are mostly bearish, with the 200SMA at 1.3634 and the daily 20EMA at 1.3630. Hourly RSI is bearish at 34.



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