EUR/USD may come under pressure from USD strength

By FXstreet.com | August 18, 2014 AAA

FXStreet (Moscow) - EUR/USD continued to edge lower breaking the bottom line of the Asian 10-pip range; it is trading at 1.3384 at the moment.



Trade data ignored



The euro is sliding down after another failed attempt to settle above 1.34 area. The just released EMU Trade Data coming at 16.8 from E15.4 bln previously were practically ignored by the pair, as the market is now focused on tomorrow’s PMI reports out of the euro zone. On the back of empty economic calendar the pair may come under pressure from broad based USD recovery noticed from the start of the European session. In this case the initial target to the downside may lie at 1.3369 support.



What are today’s key EUR/USD levels?



Today's central pivot point can be found at 1.3391, with support below at 1.3369, 1.3338 and 1.3316, with resistance above at 1.3422, 1.3444, and 1.3475. Hourly Moving Averages are mostly bullish, with the 200SMA at 1.3374 and the daily 20EMA bearish at 1.3422. Hourly RSI is bullish at 53.



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