EUR/USD ranged overnight, opening at a high of 1.3671 and gently edging lower to its morning low at 1.3648 more recently.
EUR/USD remains within weekly range
Following last weeks surprise end, with an unexpected Non Farm Payrolls number, EUR/USD looks to have settled and awaits its next catalyst. Today´s European calendar is light on significance with French and Italian CPI numbers. However, eyes will be on embattled French President Hollande who is due to present a speech on his economic outlook for the beleaguered nation today. With Friday´s US jobs data looking like one off anomalies, the market is cautiously USD positive. This afternoon, US Retail Sales represent the headline event of the day at 13:30 GMT.
What are today´s key EUR/USD levels?
Hourly RSI sits at 48 and ranging, with ADX at 12. The daily pivot point sits at 1.3666, just above spot at present. Support can be seen at 1.3646 (S1), 1.3637 (Jan 13 Low & 1H 200 SMA), 1.3624 (1H 100 SMA), 1.3616 (S2), & 1.3596 (S3). Resistance above can be seen at 1.3664 (1D 20EMA), 1.3680 (32,8% FibRet from 1.3894-3548), 1.3686 (Jan 10 H), 1.3696 (R1), 1.3700 (Psychological), 1.3716 (R2). Further, a Hammer Candlestick formation can be seen on the daily chart.
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