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16 Apr 2014
EUR/USD crawls up before the data released
FXStreet (Moscow) - EUR/USD opened the day at 1.3813, and after a period of consolidation edged higher to 1.3830 area by the moment.
CPI data on tap
Despite the mild attempts to tick higher the euro is still under pressure both by verbal interventions, and weak economic data. Although the moves are quite moderate by its nature so far, the more negative surprises we get, the stronger the slide will be. Today the market may focus its attention on final March CPI data from the EMU. Traditionally, the revised readings are ignored by the market, but given the mixed picture the recent regional reports painted, and comments from the European officials on the importance of price pressures, we may see higher volatility on the release. Worse than expected numbers may put the pair under pressure with the initial target at 1.3791 support level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3812, with support below at 1.3791, 1.3767 and 1.3746, with resistance above at 1.3836, 1.3857, and 1.3881. Hourly Moving Averages are mixed, with the 200SMA at 1.3799 and the daily 20EMA neutral at 1.3806. Hourly RSI is bullish at 53.
CPI data on tap
Despite the mild attempts to tick higher the euro is still under pressure both by verbal interventions, and weak economic data. Although the moves are quite moderate by its nature so far, the more negative surprises we get, the stronger the slide will be. Today the market may focus its attention on final March CPI data from the EMU. Traditionally, the revised readings are ignored by the market, but given the mixed picture the recent regional reports painted, and comments from the European officials on the importance of price pressures, we may see higher volatility on the release. Worse than expected numbers may put the pair under pressure with the initial target at 1.3791 support level.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3812, with support below at 1.3791, 1.3767 and 1.3746, with resistance above at 1.3836, 1.3857, and 1.3881. Hourly Moving Averages are mixed, with the 200SMA at 1.3799 and the daily 20EMA neutral at 1.3806. Hourly RSI is bullish at 53.