EUR/USD getting started above 1.3420

By FXstreet.com | August 03, 2014 AAA

FXStreet (Moscow) - EUR/USD opened the day at 1.3430, slid to 1.3417, and rebounded to 1.3429 at the moment.



Boomerang effect
The euro has nothing special to move on during the week ahead, except for the ECB meeting. Although the monetary authorities has just recently dared to stimulate economy on the back of gradual come back to tighter course from other major central banks, Draghi may still have something interesting to say. If his message will be less optimistic on the economy outlook given the recent data from euro zone and looming boomerang from EU sanctions against Russia, we may see the pair under pressure again.



What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3418, with support below at 1.3390, 1.3350 and 1.3322, with resistance above at 1.3458, 1.3486, and 1.3526. Hourly Moving Averages are mixed, with the 200SMA bearish at 1.3430 and the daily 20EMA bearish at 1.3491. Hourly RSI is bearish at 58.



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