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28 Mar 2014

EUR/USD upside sat below 50MA

FXStreet (Barcelona) - With EUR/USD making a daily high and low at 1.3774 and 1.3705 respectively, spot is currently trading at 1.3756, up 0.13% on the day so far

Having tested the high of 1.3773, EUR/USD has edged lower to where it is presently trading, finding resistance below the 1hr 50 MA at 1.3763. German CPI data was a miss across the board, with YoY registering at 1.0% against forecasts of 1.1%, with Harmonised YoY 0.9% against expectations of 1.0%. Eyes ahead will be focused on the upcoming ECB meeting next week.

EUR/USD Technicals

The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish. Currently RSI is at 64.19, up from the last hourly print at 56.05, with ADX at 33.10, up from its previous close at 19.40. Looking to a daily chart, we see that RSI is neutral at 44.63.

Looking to momentum indicators, the hourly 200 SMA is currently at 1.3763, down from the last close at 1.3816 and declining. The EUR/USD exponential closing price for the past 20 days is 1.3806, and trending lower.

On the hourly EUR/USD chart, ATR (14) is presently at 13 pips, while 2-Standard Deviation Volatility Bandwidth is shrinking and currently 43 pips. Daily 2-Standard Deviation Volatility Bandwidth is at 257 pips and shrinking.

EUR/USD Key Levels

Resistance can be found ahead of spot at 1.3758 [Last Price], 1.3774 (Daily High), 1.3783 (Daily Classic R1), 1.3788 (Hourly 100 SMA), 1.3798(Yesterday's High) and 1.3806 (Daily 20 SMA). To the downside we see next support at 1.3756 (Daily Classic PP), 1.3745 (Hourly 20 EMA), 1.3741 (Weekly Low), 1.3740 (Daily Open) and 1.3730 (Monthly Low).
Mar 28, 2014

USD/JPY; where did that come from? Up to 102.80

USD/JPY has rallied on a weak performing Yen and is challenging upside levels of the mid point of the month. The only real explanation here is that equity markets are firm and US bond yields are higher - and of course 1st April means tax hike time!
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Mar 28, 2014

GBP/USD better bid on the week, 1.6648 highs

GBP/USD has been a slow burner since the rally up from sub 1.66 handle on 1.6560 yesterday.
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