14 Jan 2014
EUR/USD took a pause before new moves
FXstreet.com (Moscow) - EUR/USD was confined to narrow 20-pip range during the early Asia having a pause before a potentially more volatile European and American sessions.
EUR/USD may get some support from the US data
After quiet trades of Monday, the pair may show us more volatility. Though there are not enough catalysts during European session, we may see some positioning before the release of the US retail sales. Consumer demand was quite good in October and November, so December slowdown may be quite natural. Forecasts range from zero to 0.2 per cent rise, and if the data meets expectations it will support USD. Nevertheless, the chances of missing the levels are quite high, thus, we expect the pair to move to the nearest resistance level at 1.3696 followed by 1.3716 in case of broader disappointment.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3666, with support below at 1.3646 (S1), 1.3616 (S2) and 1.3596 (S3), with resistance above at 1.3696 (R1), 1.3716 (R2), and 1.3746 (R3). Hourly Moving Averages are largely bullish, with the 200SMA at 1.3639 and the daily 20EMA flat at 1.3664. Hourly RSI is neutral at 52.
EUR/USD may get some support from the US data
After quiet trades of Monday, the pair may show us more volatility. Though there are not enough catalysts during European session, we may see some positioning before the release of the US retail sales. Consumer demand was quite good in October and November, so December slowdown may be quite natural. Forecasts range from zero to 0.2 per cent rise, and if the data meets expectations it will support USD. Nevertheless, the chances of missing the levels are quite high, thus, we expect the pair to move to the nearest resistance level at 1.3696 followed by 1.3716 in case of broader disappointment.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3666, with support below at 1.3646 (S1), 1.3616 (S2) and 1.3596 (S3), with resistance above at 1.3696 (R1), 1.3716 (R2), and 1.3746 (R3). Hourly Moving Averages are largely bullish, with the 200SMA at 1.3639 and the daily 20EMA flat at 1.3664. Hourly RSI is neutral at 52.