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29 Oct 2014
EUR/USD under mild pressure in early Europe
FXStreet (Moscow) - EUR/USD spent the whole Asian session around 1.2730 area, however, currently, it’s showing the attempts to go below, reaching 1.2723.
The pair made an attempt to break above 1.2750 resistance area yesterday, but failed, and is still staying under mild pressure in the European morning. However, this may be not the last chance to settle above the mentioned level, as the FOMC meeting is in focus. The market is jittery, as investors have been busy with pricing-in earlier-than-expected rate hike from the Fed during the last two months. Now, the Day X has come, and the FOMC statement may disappoint the USD-bulls. In this case the pair has good potential to move higher with initial target at 1.2772 resistance.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.2727, with support below at 1.2691, 1.2648 and 1.2610, with resistance above at 1.2772, 1.2810 and 1.2853. Hourly Moving Averages are bearish, with the 200SMA bullish at 1.2721 and the daily 20EMA flat at 1.2729. Hourly RSI is bullish at 59.
The pair made an attempt to break above 1.2750 resistance area yesterday, but failed, and is still staying under mild pressure in the European morning. However, this may be not the last chance to settle above the mentioned level, as the FOMC meeting is in focus. The market is jittery, as investors have been busy with pricing-in earlier-than-expected rate hike from the Fed during the last two months. Now, the Day X has come, and the FOMC statement may disappoint the USD-bulls. In this case the pair has good potential to move higher with initial target at 1.2772 resistance.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.2727, with support below at 1.2691, 1.2648 and 1.2610, with resistance above at 1.2772, 1.2810 and 1.2853. Hourly Moving Averages are bearish, with the 200SMA bullish at 1.2721 and the daily 20EMA flat at 1.2729. Hourly RSI is bullish at 59.