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EUR/USD is testing 1.2830/40 area of resistance

FXStreet (Moscow) - EUR/USD settled above 1.28 posting 3-day high at 1.2837 in early Europe, but failed to break higher; it’s currently trading at 1.2816.

The pair manager to climb above 1.28 early in the morning showing strong desire of the euro bulls to move higher despite the weak economic background. The looming PMI reports do not scare away the buyers, and this is another sign the pair was oversold, and is still trying to offset the losses. Lack of economic reports scheduled for today may help the technical move with initial resistance at 1.2835, followed by 1.2870 if broken.

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 1.2731 and the daily 20EMA flat at 1.2762. Hourly RSI is bullish at 64.

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