FXStreet (Moscow) - EUR/USD is showing some downward move at the moment reaching 1.3628 session low.

Nothing to cut

The pair is gradually sliding pressured by the looming Non-Farm Payrolls release. Nevertheless, we need to admit, the unprecedented actions from the ECB were not able to undermine the belief in the single currency, and it was confirmed by the U-turn of the pair after it posted 4-month low around 1.35 area yesterday. The thing is that the market took the measures as the last attempt to influence the market, and the words of Draghi that “interest rates are pretty much at lower bound” only confirmed that. If there is no additional rate cuts in future, it means no need to price it in the euro any more. The upside for the pair may be limited by 1.3720 resistance level, and 1.3552 support may defend the downside.

What are today’s key EUR/USD levels?

Today's central pivot point can be found at 1.3612, with support below at 1.3552, 1.3444 and 1.3384, with resistance above at 1.3720, 1.3780, and 1.3888. Hourly Moving Averages are bullish, with the 200SMA at 1.3618 and the daily 20EMA bearish at 1.3671. Hourly RSI is bullish at 64.

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Forex pairs in this Article » EUR/USD

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