EUR/USD ignored the IP data, thinks of 1.35

By FXstreet.com | June 12, 2014 AAA

FXStreet (Moscow) - EUR/USD slid to 1.3519 low after it reached session high at 1.3548, but rebounded to 1.3530 area; IP data was almost ignored by the pair.



Euro is in two minds



The euro was under pressure before the release of the EMU Industrial Production data, as EUR/GBP posted 2.5-year low during the European trades. The slowing inflation pressure supports the expectations of more easing from the ECB in the nearest term. The just released IP data came out ixed at 1.4% m/m, 0.8% y/y vs. 0.4% m/m, 0.9% y/y forecasted. The pair recovered to 1.3530 on the release, but is thinking of going lower again with next target at 1.3516 to the downside.



What are today’s key EUR/USD levels?



Today's central pivot point can be found at 1.3537, with support below at 1.3516, 1.3500 and 1.3479, with resistance above at 1.3553, 1.3574, and 1.3590. Hourly Moving Averages are bullish, with the 200SMA at 1.3548 and the daily 20EMA at 1.3639. Hourly RSI is bullish at 74.



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