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EUR/USD waiting for Draghi at gates to 1.3150

FXStreet (Moscow) - EUR/USD opened the day at 1.3149, and most of time tried to nest above 1.3150, without success so far.

In expectation

The pair had to give up part of its gains collected on Russian/Ukrainian cease-fire agreement yesterday. The euro retreat could partly be attributed to the looming ECB meeting. Continued disappointments from the euro zone economies made investors believe there could be more monetary stimulus, and the only question is when? The chances to see Quantitative Easing this time are very few, and hardly anybody expects it. However, Draghi and Co may try to prepare the market for more stimulus without making any changes this time. If GDP and inflation forecasts are lowered, or new details on ABS purchases come up, it will be enough to trigger the single currency selling again.

What are today’s key EUR/USD levels?

Today's central pivot point can be found at 1.3144, with support below at 1.3128, 1.3105 and 1.3089 with resistance above at 1.3167, 1.3183, and 1.3206. Hourly Moving Averages are mixed, with the 200SMA bearish at 1.3166 and the daily 20EMA bearish at 1.3252. Hourly RSI is bullish at 55.

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