EUR/USD climbed above 1.3280, but for how long?

By FXstreet.com | Updated August 22, 2014 AAA

FXStreet (Moscow) - EUR/USD opened the day at 1.3280, lost seven pips during the Asian morning, and rebounded above 1.3280 by the moment.



When Janet speaks



Although the euro was able to recover from the recent lows around 1.3240 area, the move up may be not more than a correction especially before the key Yellen speech. The investors remember about the traditionally dovish stance of the Fed’s chairman, however, they still do not rule out she can be more aggressive when talking about the labor market tonight. If so, we may see another run lower with initial target at 1.3252 support followed by 1.3224.



What are today’s key EUR/USD levels?



Today's central pivot point can be found at 1.3271, with support below at 1.3252, 1.3224, and 1.3205, with resistance above at 1.3299, 1.3318 and 1.3346. Hourly Moving Averages are mixed, with the 200SMA bearish at 1.3343 and the daily 20EMA bearish at 1.3383. Hourly RSI is bullish at 59.



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