OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/USD has hard time recovering above 1.24

FXStreet (Moscow) - EUR/USD has hard time recovering from 2-year lows, though it managed to come back to current 1.2395.

The euro became a victim of rumors, but not the words of Draghi. The ECB chairman has not told anything new, he only reiterated his readiness to act more, and put additional stress on unanimity of such position among all the council members. Now, there is no barrier on the way lower, and the rate differential theme is on the scene again. If today’s US Labor report comes out at least in line with expectations, it may put the single currency under additional pressure sending the pair to 1.2321 support.

What are today’s key EUR/USD levels?

Today's central pivot point can be found at 1.2428, with support below at 1.2321, 1.2268 and 1.2161, with resistance above at 1.2481, 1.2588 and 1.2641. Hourly Moving Averages are mixed, with the 200SMA bearish at 1.2566 and the daily 20EMA bearish at 1.2618. Hourly RSI is bearish at 37.

DAX edges higher after ECB reassurance

The German blue-chip index, Dax, posted modest gains after the European central Bank (ECB) reassured markets that the rate-setters are unanimous on increasing the balance sheet size to early-2012 levels.
Read more Previous

Nickel inventory rises

The daily inventory data released by the London Metal Exchange (LME) today showed a decline in the inventory levels of Aluminium, Lead, Copper and Zinc. Meanwhile, the data showed a rise in the inventory levels of Nickel.
Read more Next
Start livechat