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1 Apr 2014
No luck for EUR/USD despite better than expected Unemployment rate
FXStreet (Moscow) - EUR/USD dropped to current levels at 1.3788 after another unsuccessful attack at 1.3800 on the back of better than expected EZ labour market data.
EUR/USD bulls’ goose is cooked
Great day for Eurozone as most of the economic figures came out better or in line with expectations. The news that the number of unemployed in Germany decreased in March was followed by equally positive Eurozone unemployment rate that fell below 12% for the first time in over a year last month. This helped to tame ECB rate cut expectations following lower than expected March CPI numbers published on Monday. EUR/USD reacted with another attempt at 1.3800. Alas! Bad luck again. Offers seen into $1.3810 stopped the upside and forced the pair to resume its sad trip to the South.Technically, the numerous failed attempt at 1.3800 resistance proves that the bulls are not strong enough, so the pair is vulnerable to deeper downside correction.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3767, with support below at 1.3724, 1.3680 and 1.3637, with resistance above at 1.3811, 1.3854, and 1.3898. Hourly Moving Averages are mixed, with the 200SMA at 1.3389 and the daily 20EMA flat at 1.3798. Hourly RSI is neutral at 55.
EUR/USD bulls’ goose is cooked
Great day for Eurozone as most of the economic figures came out better or in line with expectations. The news that the number of unemployed in Germany decreased in March was followed by equally positive Eurozone unemployment rate that fell below 12% for the first time in over a year last month. This helped to tame ECB rate cut expectations following lower than expected March CPI numbers published on Monday. EUR/USD reacted with another attempt at 1.3800. Alas! Bad luck again. Offers seen into $1.3810 stopped the upside and forced the pair to resume its sad trip to the South.Technically, the numerous failed attempt at 1.3800 resistance proves that the bulls are not strong enough, so the pair is vulnerable to deeper downside correction.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3767, with support below at 1.3724, 1.3680 and 1.3637, with resistance above at 1.3811, 1.3854, and 1.3898. Hourly Moving Averages are mixed, with the 200SMA at 1.3389 and the daily 20EMA flat at 1.3798. Hourly RSI is neutral at 55.