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EUR/USD stuck at 1.2850, new triggers are wanted

FXStreet (Moscow)- EUR/USD touched the area of minor offers at 1.2865 early n Asia and retraced towards 1.2852; the pair is rangebound, waiting for the European opening

EUR/USD is listening to policy makers

The ECB’s Head Mario Draghi was really gloomy while speaking at the regular Quarterly Hearing of the Committee on Economic and Monetary Affairs of the European Parliament in Brussels on Monday. He stressed that both growth and inflation perspectives are at risks and promised to take measures to prevent the situation from worsening. Investors took his words close to heart and pushed EUR/USD to new 2014 low at 1.2816. While the longer term EUR perspectives remain clouded, in the short-term the single currency has a chance to recover with the initial aim of 1.2865 and 1.2900. FED’s Kocherlakota hinted that it would be premature to withdraw stimulus right now, which added some downside pressure on USD.

What are today’s key EUR/USD levels?

Today's central pivot point can be found at 1.2844, with support below at 1.2821, 1.2792, and 1.2769, with resistance above at 1.2873, 1.2896 and 1.2925. Hourly Moving Averages are bearish, with the 200SMA bearish at 1.2911 and the daily 20EMA bearish at 1.3000. Hourly RSI is bullish at 50.

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