EUR/USD is on the way to Thursday highs

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Moscow) - EUR/USD opened the day 1.3607, and climbed to 1.3623 by the moment.



Market sentiment factor



The EMU economic calendar has no salt today, and the only event of interest is the release of German PPI numbers that may reflect the price developments at production level. It may serve as the leading indicator of inflationary pressure in the economy, and another evidence of slowing index may put the pair under mild pressure confirming the ECB is on the right way to stimulate the economy. The initial target to the upside may lie at 1.3640, and the next support comes at 1.3611.



What are today’s key EUR/USD levels?



Today's central pivot point can be found at 1.3611, with support below at 1.3579, 1.3550 and 1.3518, with resistance above at 1.3640, 1.3672, and 1.3701. Hourly Moving Averages are bullish, with the 200SMA at 1.3561 and the daily 20EMA flat at 1.3609. Hourly RSI is bullish at 59.



Related Forex Analysis
  1. Recap: US Dollar gives up ahead Thanksgiving; pullback or profit taking?
    Forex News

    Recap: US Dollar gives up ahead Thanksgiving; pullback or profit taking?

  2. The 1.2500 holds a EUR/USD ready to advance; watch for USDX weekly close below 87.6 ...
    Forex News

    The 1.2500 holds a EUR/USD ready to advance; watch for USDX weekly close below 87.6 ...

  3. Greenback dropping ahead of holidays – FXStreet
    Forex News

    Greenback dropping ahead of holidays – FXStreet

  4. EUR/USD back near 1.2500
    Forex News

    EUR/USD back near 1.2500

  5. Oil prices falling harms ECB’s quest - BBH
    Forex News

    Oil prices falling harms ECB’s quest - BBH

Trading Center