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EUR/USD knock-knock-knockin' on 1.3150 door

FXStreet (Moscow) - EUR/USD knocked to 1.3150 door several times this morning, but without success; currently, it retreated to 1.3140 area.

Wait and see

It looks like 1.3150 area is a hard nut to crack, especially before the ECB meeting. The recent comments from Eurogroup head Dijsselbloem only complicate the task, as he already pointed to fragile recovery of the euro zone economy, and stressed the monetary authorities are not “at the end of its instruments”. In such circumstances the pair may prefer to wait for Draghi with selling interest around 1.3150/60 and buying interest around 1.3120/30 keeping the moves contained in narrow range.

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 bearish at 48.

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