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18 Mar 2014
EUR/USD got nervous due to sudden pound weakness
FXStreet (Moscow) - EUR/USD was trading close to session highs, but bounced back to 1.3910 area scared by the cable sell-off.
Spill-over effect from the pound
EUR/USD followed the move down after GBP/USD lost more than 50 pips in an hour. The prime seller of the pound is rumored to be a custody bank. The significant amount of the transaction means it is the move within some strategic frame, thus the sell-off interest may have spill-over effect on other European currencies, as happened with the euro already. By the time of writing, it reached 1.3907 low from 1.3937 session high posted in Asia. Nevertheless, the move down will be complicated by the noted buyers’ interest around 1.39 area, with more around 1.3885.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3916, with support below at 1.3884, 1.3845 and 1.3813, with resistance above at 1.3955, 1.3987, and 1.4026. Hourly Moving Averages are bullish, with the 200SMA at 1.3869 and the daily 20EMA bullish at 1.3805. Hourly RSI is neutral at 56.
Spill-over effect from the pound
EUR/USD followed the move down after GBP/USD lost more than 50 pips in an hour. The prime seller of the pound is rumored to be a custody bank. The significant amount of the transaction means it is the move within some strategic frame, thus the sell-off interest may have spill-over effect on other European currencies, as happened with the euro already. By the time of writing, it reached 1.3907 low from 1.3937 session high posted in Asia. Nevertheless, the move down will be complicated by the noted buyers’ interest around 1.39 area, with more around 1.3885.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3916, with support below at 1.3884, 1.3845 and 1.3813, with resistance above at 1.3955, 1.3987, and 1.4026. Hourly Moving Averages are bullish, with the 200SMA at 1.3869 and the daily 20EMA bullish at 1.3805. Hourly RSI is neutral at 56.