EUR/USD didn’t get fuel from the EMU data, but stopped sliding

By FXstreet.com | July 30, 2014 AAA

FXStreet (Moscow) - EUR/USD kept testing 1.34 in the European morning touching 1.3394 low before the EMU data release. It now trades at 1.3402.



The EMU data released



The euro is still under pressure edging lower mostly on fears, but coupled with facts. The regional data from German shows largely lower than expected price pressure that bodes well for further downside movement. The just released data on the EMU economic sentiment came out better than expected at 102.2 vs 101.8. However, the business climate disappointed showing 0.17 vs 0.20 forecasted. The pair practically ignored the data, though showing some shy attempts of rebound. However, mixed data is not enough to support the euro rebound.



What are today’s key EUR/USD levels?



Today's central pivot point can be found at 1.3419, with support below at 1.3393, 1.3377 and 1.3351, with resistance above at 1.3435, 1.3461, and 1.3477. Hourly Moving Averages are bearish, with the 200SMA at 1.3472 and the daily 20EMA bearish at 1.3521. Hourly RSI is bearish at 34.



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