EUR/USD may get the reasons to move soon

By FXstreet.com | Updated August 01, 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.



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