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Aug 21, 2014
EUR/USD is very ambitious when speaking about lows
FXStreet (Moscow) - EUR/USD opened the day at 1.3258, and edged lower posting almost yearly low at 1.3241; it is trading several pips higher now.
Two-staged test
The euro is sold constantly even if there is no data released. The euro zone data weakness coupled with a broad-based USD strength could be the key reasons of such a behavior. Today the pair may have a two-staged test in form of the EMU PMIs during the European session, and the series of the US reports during the American session. If the data from the euro zone confirms the downside trend both in manufacturing and service sector, the pair may slide to 1.3234 support with next target at 1.3209.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3280, with support below at 1.3234, 1.3209, and 1.3163, with resistance above at 1.3305, 1.3351 and 1.3376. Hourly Moving Averages are bearish, with the 200SMA at 1.3357 and the daily 20EMA bearish at 1.3393. Hourly RSI is bearish at 16.
Two-staged test
The euro is sold constantly even if there is no data released. The euro zone data weakness coupled with a broad-based USD strength could be the key reasons of such a behavior. Today the pair may have a two-staged test in form of the EMU PMIs during the European session, and the series of the US reports during the American session. If the data from the euro zone confirms the downside trend both in manufacturing and service sector, the pair may slide to 1.3234 support with next target at 1.3209.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3280, with support below at 1.3234, 1.3209, and 1.3163, with resistance above at 1.3305, 1.3351 and 1.3376. Hourly Moving Averages are bearish, with the 200SMA at 1.3357 and the daily 20EMA bearish at 1.3393. Hourly RSI is bearish at 16.