FXStreet (Moscow) - EUR/USD posted 1.3639 high at European open, slid to 1.3627 before the IP data, and moving up just a couple of pips right after.

IP can't

The initial happiness about the positive stock market opening faded away, and the market focused on first European release today – the EMU Industrial Production numbers. The numbers came a little bit better at -1,1% m/m, +0.5% y/y vs -1,2% m/m, +0.5% y/y expected. The data had very mild impact on the pair with the euro trading around 1.3630 at the moment. The market is more focused on monetary policy hints, thus the looming Draghi speech, and Jannet Yellen testimony will be the key drivers ahead. The recent spike of activity among the major pairs could have been related to the article in WSJ on intensifying debate among the Federal Reserve's regional bank presidents about whether to push interest rates up from zero sooner than planned because of recent improvements in the U.S. job market.

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.

You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    EUR/USD around 1.1150 on EMU CPI

  2. Forex News

    EUR/USD drops to lows near 1.1135

  3. Forex News

    EUR/USD: sell on upticks approach remains preferred – KBC

  4. Forex News

    EUR/USD trades around 1.1170, German data capped recovery

  5. Forex News

    Pound May Fall on UK GDP, Euro Engulfed in Greece Crisis Fallout

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!