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8 Sep 2014
EUR/USD browsing around 1.2930 moving down the meadow
FXStreet (Moscow) - EUR/USD opened the day at 1.2955, and drifted lower, currently trading at 1.2935.
Reluctant to rise
The reluctant rise of the euro post Non-Farm Payrolls release confirmed, currently, there are practically no factors that may convince the traders to buy the single currency again. The ECB is more dovish than ever, and the Fed is gradually nearing the end of the Quantitative Easing (QE). And this monetary policy divergence may support the pair downtrend for the time being. However, the lack of economic catalysts during the coming week may leave the pair in narrow ranges in the short term.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.2954, with support below at 1.2919, 1.2887, and 1.2852, with resistance above at 1.2986, 1.3021 and 1.3053. Hourly Moving Averages are bearish, with the 200SMA at 1.3116 and the daily 20EMA bearish at 1.3196. Hourly RSI is bearish at 33.
Reluctant to rise
The reluctant rise of the euro post Non-Farm Payrolls release confirmed, currently, there are practically no factors that may convince the traders to buy the single currency again. The ECB is more dovish than ever, and the Fed is gradually nearing the end of the Quantitative Easing (QE). And this monetary policy divergence may support the pair downtrend for the time being. However, the lack of economic catalysts during the coming week may leave the pair in narrow ranges in the short term.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.2954, with support below at 1.2919, 1.2887, and 1.2852, with resistance above at 1.2986, 1.3021 and 1.3053. Hourly Moving Averages are bearish, with the 200SMA at 1.3116 and the daily 20EMA bearish at 1.3196. Hourly RSI is bearish at 33.