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EUR/USD - to stay or not to stay above 1.34?

FXStreet (Moscow) - EUR/USD opened the day at 1.3405, and shuffled down to 1.3393 at the moment.

Provided there is no escalation

The announcement from the Russian Ministry of Defense that the military drills at the south of Russia are over, took the investors by surprise on Friday, and may still support some interest to the pair today. The recent response of the Kremlin in form of product ban from the EU market made the traders believe the tension would only grow higher every coming day, and it was priced in the euro. However, the stopped military exercise made the investors think they were too pessimistic. Given the absence of any economic news scheduled for today, the further recovery of the pair is not ruled out provided there is no escalation of conflict.

What are today’s key EUR/USD levels?

Today's central pivot point can be found at 1.3395, with support below at 1.3357, 1.3305 and 1.3267, with resistance above at 1.3447, 1.3484, and 1.3537. Hourly Moving Averages are mixed, with the 200SMA bullish at 1.3392 and the daily 20EMA bearish at 1.3451. Hourly RSI is bullish at 57.

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