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11 Jun 2014
EUR/USD rebounded to 1.3540, but is it for long?
FXStreet (Moscow) - EUR/USD opened the day at 1.3546, tumbled to 1.3521, but recovered to 1.3540 area by the moment.
In search for yield
The single currency continues to stay under pressure as the market gradually realizes that there is nothing supportive in the recent ECB actions for the euro. Moreover, the regional bond yields already starting to fall, and the Spanish indicator now stands lower than the US yield. This is the clear sign the investment flows are already in search for parking place with higher payments, and given the dovish stance of Draghi, euro zone is not the best location. The downside for today may be limited by support at 1.3518, and the upside – by 1.3561.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3561, with support below at 1.3518, 1.3490 and 1.3447, with resistance above at 1.3589, 1.3632, and 1.3660. Hourly Moving Averages are bearish, with the 200SMA at 1.3615 and the daily 20EMA at 1.3651. Hourly RSI is bearish at 27.
In search for yield
The single currency continues to stay under pressure as the market gradually realizes that there is nothing supportive in the recent ECB actions for the euro. Moreover, the regional bond yields already starting to fall, and the Spanish indicator now stands lower than the US yield. This is the clear sign the investment flows are already in search for parking place with higher payments, and given the dovish stance of Draghi, euro zone is not the best location. The downside for today may be limited by support at 1.3518, and the upside – by 1.3561.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3561, with support below at 1.3518, 1.3490 and 1.3447, with resistance above at 1.3589, 1.3632, and 1.3660. Hourly Moving Averages are bearish, with the 200SMA at 1.3615 and the daily 20EMA at 1.3651. Hourly RSI is bearish at 27.