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15 May 2014
EUR/USD is thinking of recovery, just thinking
FXStreet (Moscow) - EUR/USD opened the day at 1.3714, reached 1.3723 in Asia, but retreated a bit by the moment.
GDP needs just to meet, not to exceed
The key support level at 1.37 is still a support, and the pair even tries to recover higher with 1.3760 as a next target. The scheduled for release EMU GDP data is of interest as we already got positive German numbers confirming the recovery was going on in the region. Although we saw some signs of slower growth in the first quarter on the back of weaker industrial readings and trade activity, we still can expect the EMU report to meet expectations at 0.4% q/q. And if so, it will be the highest level from the first quarter of 2011, which may be potentially positive for the euro.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3715, with support below at 1.3697, 1.3680 and 1.3662, with resistance above at 1.3732, 1.3750, and 1.3767. Hourly Moving Averages are bearish, with the 200SMA at 1.3824 and the daily 20EMA bearish at 1.3809. Hourly RSI is bearish at 49.
GDP needs just to meet, not to exceed
The key support level at 1.37 is still a support, and the pair even tries to recover higher with 1.3760 as a next target. The scheduled for release EMU GDP data is of interest as we already got positive German numbers confirming the recovery was going on in the region. Although we saw some signs of slower growth in the first quarter on the back of weaker industrial readings and trade activity, we still can expect the EMU report to meet expectations at 0.4% q/q. And if so, it will be the highest level from the first quarter of 2011, which may be potentially positive for the euro.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3715, with support below at 1.3697, 1.3680 and 1.3662, with resistance above at 1.3732, 1.3750, and 1.3767. Hourly Moving Averages are bearish, with the 200SMA at 1.3824 and the daily 20EMA bearish at 1.3809. Hourly RSI is bearish at 49.