EUR/USD in energy-saving mode before tonight moves

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Moscow) - EUR/USD opened the day at 1.3600, and since that time hardly moved 7 pips.

Draghi can

Despite the current coma, the week ahead promises to be quite active for the pair, and although the euro zone will not be in the centre of the moves, it still may add some fuel to the fire with Draghi’s speech scheduled for tonight. As we remember, the market was agitated by the recent ‘Portuguese Issue’ with the largest national bank on the brink of default. This fact only supports the idea of very weak pace of the euro zone recovery, and may force Draghi to step up with more verbal interventions. If so, the euro may have a good reason to start falling again with initial target at 1.3573 support.

What are today’s key EUR/USD levels?

Today's central pivot point can be found at 1.3608, with support below at 1.3590, 1.3573 and 1.3555, with resistance above at 1.3625, 1.3643, and 1.3660. Hourly Moving Averages are mixed, with the 200SMA at 1.3620 and the daily 20EMA flat at 1.3621. Hourly RSI is bullish at 50.

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