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EUR/USD drowning around 1.2930

FXStreet (Moscow) - EUR/USD opened the day at 1.2943, and continued to stride lower reaching 1.2921 session low in Asia; it’s currently trading at 1.2937.

New focus

ECB and Draghi couldn’t surprise more yesterday. The European monetary authorities acknowledged by its decisive actions that measures taken in June were not enough to stop the slump in economy, and the slide in inflation. The chances the ECB will take a pause for the time being are quite high. It means that the market focus may shift to American data. Now the pair is trading around July, 2013 lows, and it may go even lower, should the Non-Farm Payrolls come out above expectations. The nearest target to the downside may lie at 1.2858 support.

What are today’s key EUR/USD levels?

Today's central pivot point can be found at 1.3006, with support below at 1.2858, 1.2771, and 1.2623, with resistance above at 1.3093, 1.3241 and 1.3328. Hourly Moving Averages are bearish, with the 200SMA bearish at 1.3141 and the daily 20EMA bearish at 1.3222. Hourly RSI is bearish at 21.

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