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22 May 2014
EUR/USD falls victim of bearish assault
FXStreet (Moscow) - EUR/USD is under pressure, the pair moved from the opening level at 1.3687 to its current Asian low of 1.3672.
Bears are in control
EUR/USD dipped below the pivotal level of 1.3700 and finished Wednesday at 1.3687 after touching a low at 1.3655. Suspiciously hawkish comments from Weidmann failed to discourage EUR bears and the pair has a good chance to finish the third consecutive week in the red. EUR/USD continued to slide during Asian hours mostly on the back of technical factors. The short-term downside may be extended if the pair breaks below the area of bids clustered on approach to 1.3650/48, while ahead of European session more pronounced movements are unlikely.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3682, with support below at 1.3639, 1.3592 and 1.3549, with resistance above at 1.3729, 1.3777, and 1.3819. Hourly Moving Averages are bearish, with the 200SMA at 1.3715 and the daily 20EMA at 1.3766. Hourly RSI is bearish at 42.
Bears are in control
EUR/USD dipped below the pivotal level of 1.3700 and finished Wednesday at 1.3687 after touching a low at 1.3655. Suspiciously hawkish comments from Weidmann failed to discourage EUR bears and the pair has a good chance to finish the third consecutive week in the red. EUR/USD continued to slide during Asian hours mostly on the back of technical factors. The short-term downside may be extended if the pair breaks below the area of bids clustered on approach to 1.3650/48, while ahead of European session more pronounced movements are unlikely.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3682, with support below at 1.3639, 1.3592 and 1.3549, with resistance above at 1.3729, 1.3777, and 1.3819. Hourly Moving Averages are bearish, with the 200SMA at 1.3715 and the daily 20EMA at 1.3766. Hourly RSI is bearish at 42.