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7 Jan 2014
EUR/USD eases into European session
FXstreet.com (Barcelona) - With yesterday´s high at 1.3561 meeting resistance at the 23.6% Fibonacci retracement from the Dec 27 high at 1.3892 to yesterday´s low at 1.3570, EUR/USD eased lower overnight, guided by the 1H 50 SMA to where we are presently trading at 1.3620.
EUR/USD eyes on German Unemployment as Yellen confirmed
Yesterday saw Janet Yellen confirmed as the first female Chair of the Federal Reserve, in a move which had long been anticipated and priced into the market. She appointment represents a business as usual transition of stewardship at the central bank. Overnight saw little news of impact, and early data this morning has seen an improvement in German Retail Sales. Ahead this morning, the headline event of the day is German unemployment at 08:55 GMT, and EZ CPI at 10:00 GMT.
What are today´s key EUR/USD levels?
Hourly RSI sits at 49, with ADZ also neutral at 16. The daily pivot point sits at 1.3620 where spot is presently finding support, and resistance above can be found at 1.3651 (Jan 6 High), 1.3670-71 (R1 & Jan 5 High), before the 20D EMA at 1.3684 and the hourly 200 SMA at 1.3709. Support below can be seen at 1.3587 (S1), 1.3581 (Jan 5 Low), 1.3570 (Jan 6 Low), 1.3537 (S2) and 1.3523-25 (Dec 2-3 Lows). Additionally, on the weekly chart we can see the 50 SMA positioned to cross above the 200 SMA around the 1.3300 mark.
EUR/USD eyes on German Unemployment as Yellen confirmed
Yesterday saw Janet Yellen confirmed as the first female Chair of the Federal Reserve, in a move which had long been anticipated and priced into the market. She appointment represents a business as usual transition of stewardship at the central bank. Overnight saw little news of impact, and early data this morning has seen an improvement in German Retail Sales. Ahead this morning, the headline event of the day is German unemployment at 08:55 GMT, and EZ CPI at 10:00 GMT.
What are today´s key EUR/USD levels?
Hourly RSI sits at 49, with ADZ also neutral at 16. The daily pivot point sits at 1.3620 where spot is presently finding support, and resistance above can be found at 1.3651 (Jan 6 High), 1.3670-71 (R1 & Jan 5 High), before the 20D EMA at 1.3684 and the hourly 200 SMA at 1.3709. Support below can be seen at 1.3587 (S1), 1.3581 (Jan 5 Low), 1.3570 (Jan 6 Low), 1.3537 (S2) and 1.3523-25 (Dec 2-3 Lows). Additionally, on the weekly chart we can see the 50 SMA positioned to cross above the 200 SMA around the 1.3300 mark.