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.



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