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EUR/USD clung to 1.2750 ignoring data

FXStreet (Moscow) - EUR/USD clung to 1.2750 area, swaying back and forth during the Asian, and early European trades; it is currently trading at 1.2743.

The pair was not able to settle above 1.28 last Friday. However, it managed to close 1% higher on weekly basis, despite worse than expected data out of the EMU, and dovish comment from the ECB officials. The coming week may bring more evidence of weakness in the region, as PMI reports are scheduled for release. Nevertheless, the pair may choose to ignore the bad data again, as investors has already priced-in the negative developments within the euro zone. The released today German PPI came out as expected, and failed to trigger any market interest.

What are today’s key EUR/USD levels?

Today's central pivot point can be found at 1.2781, with support below at 1.2724, 1.2687 and 1.2630, with resistance above at 1.2818, 1.2875 and 1.2919. Hourly Moving Averages are mixed, with the 200SMA bullish at 1.2715 and the daily 20EMA flat at 1.2758. Hourly RSI is bearish at 44.

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