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EUR/USD stays in 15-pip cage, waiting for US data

FXStreet (Moscow) - EUR/USD opened at 1.2923, and hardly moved since that time staying within 15-pip range.

USD obsession

The lack of economic data left the pair locked in relatively narrow ranges of 1.2860-1.2960 during this week. Absolute USD strength, and even new round of the EU sanctions against Russia failed to move the pair out of the brackets. However, the looming US Retail Sales report may have much more significance for the pair, given the market’s obsession with USD. Stronger than expected numbers may help the pair move below 1.29 with the next target at 1.2869 support.

What are today’s key EUR/USD levels?

Today's central pivot point can be found at 1.2925, with support below at 1.2896, 1.2869, and 1.2840, with resistance above at 1.2952, 1.2981 and 1.3008. Hourly Moving Averages are mixed, with the 200SMA bearish at 1.2995 and the daily 20EMA bearish at 1.3105. Hourly RSI is bearish at 48.

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