EUR/USD is glued to 1.3560 early in Europe

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Moscow) - EUR/USD is trying to develop the upside correction from the Asian low of 1.3546, but bullish momentum is weak.



Last nail to the coffin of Euro?



Today’s eurozone regional inflation data may only further cement the expectations of additional easing from the ECB, if CPI data out of Italy, and Spain are revised lower. Nevertheless, for the moment the euro weakness already starting to look exaggerated, thus, the mild rebounds higher from the current lows are not ruled out. The downside may be limited by 1.3520 support, while the upside is capped by 1.3600.



What are today’s key EUR/USD levels?



Today's central pivot point can be found at 1.3546, with support below at 1.3518, 1.3484 and 1.3456, with resistance above at 1.3580, 1.3608, and 1.3642. Hourly Moving Averages are mostly bullish, with the 200SMA at 1.3593 and the daily 20EMA at 1.3631. Hourly RSI is bullish at 58.



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