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EUR/USD bulls wake up and drive pair above 1.2800

FXStreet (Moscow) - EUR/USD  has moved above 1.2800 and reached the Asian high at 1.2820 on the back of USD weakness against AUD and JPY

EUR/USD keeps on trying to get above 1.2800 pivot. Yesterday the pair managed to climb to 1.2817, where new sellers joined the game and pushed it back. Ahead looks like an empty calendar for EUR, so we may have another day of technical trading, at least until after US existing home sales data is published. The report is expected to show an improvement in September after dismal numbers registered in August. While the news could be supportive for USD, the reaction might be muted amid lingering concerns over global economic growth. From the technical point of view we need to see a sustained break and daily close above 1.2800 to get a chance for more extended upside with the initial aim at 1.2840 and at 1.2887 (previous week’s high).

What are today’s key EUR/USD levels?

Today's central pivot point can be found at 1.2783, with support below at 1.2748, 1.2696 and 1.2661, with resistance above at 1.2835, 1.2870 and 1.2922. Hourly Moving Averages are mixed, with the 200SMA bullish at 1.2730 and the daily 20EMA flat at 1.2762. Hourly RSI is bullish at 63.

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