EUR/USD getting started above 1.3420

By FXstreet.com | Updated August 04, 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.



You May Also Like

Related Forex Analysis
  1. Forex News

    A calm and holy night or a snowstorm of volatility? – ING

  2. Forex News

    Euro Struggles Ahead of Greek Election- USD/CAD Carves Lower Highs

  3. Forex News

    EUR/USD hits fresh 2014 lows

  4. Forex News

    A modest rise in US rates next year - RBS

  5. Forex News

    EUR/USD erases daily losses

Trading Center