EUR/USD reached the moment of truth at 1.33

By FXstreet.com | Updated August 20, 2014 AAA

FXStreet (Moscow) - EUR/USD opened the day at 1.3319, and edged all the way down to 1.33 at the moment



No news is bad news



The pair continued the sell-off thanks to stronger demand on the USD. The lack of economic data out of the EMU is offset by abundance of economic reports out of the USA. The recent American releases stopped the series of disappointments, as housing data and CPI level pointed to stable pace of the economic recovery. Today the pair slide may continue with the possibility of the breakout below the key 1.33 support, if the FOMC minutes release shows there were some hawks within the Fed. The next target to the downside may lie at 1.3281 followed by 1.3248.



What are today’s key EUR/USD levels?



Today's central pivot point can be found at 1.3333, with support below at 1.3300, 1.3281, and 1.3248, with resistance above at 1.3352, 1.3385 and 1.3404. Hourly Moving Averages are bearish, with the 200SMA at 1.3369 and the daily 20EMA bearish at 1.3408. Hourly RSI is bearish at 19.



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