FXStreet (Moscow) - EUR/USD is sitting in a 10-pips rage, waiting nervously for inflation and GDP numbers; currently, the pair is trading at 1.3363 marginally higher from its opening level of 1.3361

EZ GDP is in the limelight

So, EUR/USD has stuck in a narrowing range as 1.3350 proves to be a strong support, while bulls find 1.3400 resistance unbreakable. Poor retail sales data from the USA triggered some USD selling across the board, but EUR could poke their heads above 1.3400 for a fraction of a second, only to stick it back and settle around 1.3360. While investors are definitely bearish towards the single currency, there is s sense that EUR/USD is somewhat oversold, which prevents them from pushing it lower more aggressively. We need to see either more pronounced profit-taking (probably towards 1.3476 resistance) or a strong bearish trigger (probably weak CPI and GDP data) for EUR/USD to resume the downside and crash below 1.3330.

What are today’s key EUR/USD levels?

Today's central pivot point can be found at 1.3364, with support below at 1.3333, 1.3300 and 1.3259, with resistance above at 1.3407, 1.3448, and 1.3481. Hourly Moving Averages are bearish, with the 200SMA bearish at 1.3383 and the daily 20EMA bearish at 1.3431. Hourly RSI is bearish at 46

Related Articles
  1. Forex

    The Pros and Cons of a Fully Convertible Rupee

    Amid the rising economic power of India, the talks of making the Indian currency fully convertible are gaining momentum. We look at the pros and cons.
  2. Forex Fundamentals

    Chinese Yuan an Unlikely Reserve Currency

    As the world's second largest economy, China's challenge to America’s dominance includes a push to make the yuan (RMB), the world’s reserve currency. Whether it can do that now is unclear.
  3. Economics

    How Currency Enforcement Helped Sink The Trans-Pacific Partnership (TTP)

    One particular barrier to trade that has received much attention of late and caused delays in negotiations of the TPP is exchange-rate manipulation, by which a country artificially devalues its ...
  4. Forex

    Top U.S Forex News Sites

    Breaking news moves forex markets. Here are the top U.S. sites for tracking forex news.
  5. Investing

    Financial News Comparison: Bloomberg Vs. Reuters

    Access to financial information has grown with the expansion of digital news. Bloomberg and Thomson Reuters lead the pack, claiming a majority of the business information market.
  6. Economics

    Who Benefits From South Korea's Lowered Interest Rates?

    South Korea is the latest country to cut interest rates in an attempt to stimulate economic growth.
  7. Forex Education

    The Top Uses For P2P Currency Exchange

    Peer-to-peer (P2P) currency exchange networks offer a viable and cheaper alternative for buying and selling currencies.
  8. Forex

    Steps To Open An Offshore Forex Account

    Here is a simple breakdown of how to open an offshore forex account for US-based users, including legal requirements.
  9. Entrepreneurship

    Top Forex Trading Apps

    A brief overview of the top apps that help forex traders with on time information, charts and more.
  10. Investing Basics

    The Risks Of Buying Bitcoin

    Virtual currency is probably here to stay, but what about Bitcoin specifically? Does it have a first-to-market advantage? What are the risks involved?
RELATED TERMS
  1. No results found.

You May Also Like

COMPANIES IN THIS ARTICLE
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!