EUR/USD - found peace around 1.3640

By FXstreet.com | June 08, 2014 AAA

FXStreet (Moscow) - EUR/USD opened the day at 1.3642, and since that time wiggled around adding and losing no more than 2 pips; it managed to reach 1.3653 on European open.

Fundamental vacuum

The market has completely digested all the ramifications of the recent ECB step to easier monetary policy. Thus, the pair is now in some kind of catalyst vacuum – the monetary authorities gave the clear sign there could be more additional stimulus ahead if needed, and it means the fundamentals may lose its significance for the time being. Nevertheless, the awaited period of radio silence from the ECB during the nearest quarter in order to assess the effect from the recent actions may prove supportive for the single currency. For today the upside may be limited by 1.3655 resistance, while the downside – by 1.3594 support level.

What are today’s key EUR/USD levels?

Today's central pivot point can be found at 1.3647, with support below at 1.3594, 1.369 and 1.3541, with resistance above at 1.3627, 1.3655, and 1.3670. Hourly Moving Averages are mostly bullish, with the 200SMA at 1.3618 and the daily 20EMA at 1.3669. Hourly RSI is bullish at 52.

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