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21 May 2014
EUR/USD back to square one
FXStreet (Córdoba) - The EUR/USD failed once again to sustain a move away from the 1.3700 line as it pulled back to opening levels soon after reaching a daily high at the beginning of the European session.
The euro had a moment of glory and climbed to a session high of 1.3722 versus the dollar, but once again, without much of a catalyst to trigger strong moves one way or another, the EUR/USD seems unable to leave its comfort zone for long.
During the American session, the Fed will release latest FOMC minutes, which could give the pair some propulsion, although at this stage and with the Fed on a steady course, interest is poised on the ECB after Draghi hinted at June action.
EUR/USD levels to watch
At time of writing, the EUR/USD is trading at 1.3703, virtually unchanged on the day. In terms of technical levels, next supports could be found at 1.3647/42 (May 15 & feb 27 lows), 1.3623 (200-day SMA) and 1.3600 (psychological level). On the other hand, resistances are seen at 1.3735/40 (weekly highs/100-day SMA), 1.3774 (May 12 high) and 1.3800 (psychological level).
The euro had a moment of glory and climbed to a session high of 1.3722 versus the dollar, but once again, without much of a catalyst to trigger strong moves one way or another, the EUR/USD seems unable to leave its comfort zone for long.
During the American session, the Fed will release latest FOMC minutes, which could give the pair some propulsion, although at this stage and with the Fed on a steady course, interest is poised on the ECB after Draghi hinted at June action.
EUR/USD levels to watch
At time of writing, the EUR/USD is trading at 1.3703, virtually unchanged on the day. In terms of technical levels, next supports could be found at 1.3647/42 (May 15 & feb 27 lows), 1.3623 (200-day SMA) and 1.3600 (psychological level). On the other hand, resistances are seen at 1.3735/40 (weekly highs/100-day SMA), 1.3774 (May 12 high) and 1.3800 (psychological level).