EUR/USD may get the reasons to move soon

By FXstreet.com | July 31, 2014 AAA

FXStreet (Moscow) - EUR/USD opened the day at 1.3388 and wiggled around during the whole Asian session edging lower to 1.3380 at the moment.



FOMC’s favorite



Despite the current laziness, today the pair may get several reasons to move, starting with euro zone PMI numbers, and ending with US Non-Farm Payrolls. Both releases are potentially euro bearish as the EMU data has shown some weakness recently, and the American readings pointed to better than expected recovery pace. However, we need to pay attention to US Labor market as this is the area what troubles the Fed at the moment given the recent FOMC statement. Strong data may support the move to 1.3357 support.



What are today’s key EUR/USD levels?



Today's central pivot point can be found at 1.3387, with support below at 1.3374, 1.3357 and 1.3344, with resistance above at 1.3404, 1.3417, and 1.3434. Hourly Moving Averages are mixed, with the 200SMA bearish at 1.3441 and the daily 20EMA bearish at 1.3498. Hourly RSI is bearish at 46.



comments powered by Disqus
Related Forex Analysis
  1. GBP/USD upside remains corrective – Commerzbank
    Forex News

    GBP/USD upside remains corrective – Commerzbank

  2. USD/CHF shows recovery attempts, as it bottomed at 0.9340
    Forex News

    USD/CHF shows recovery attempts, as it bottomed at 0.9340

  3. EUR/USD Daily Outlook - September 19
    Investing

    EUR/USD Daily Outlook - September 19

  4. SEB:  More EUR/USD buying seen above 1.2943 - eFXnews
    Forex News

    SEB: More EUR/USD buying seen above 1.2943 - eFXnews

  5. USD/CAD at Risk for Larger Downside Correction on Sticky Canada CPI
    Forex News

    USD/CAD at Risk for Larger Downside Correction on Sticky Canada CPI

Trading Center