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12 Mar 2014
EUR/USD flat on ‘off market at 1.3860
FXStreet (Guatemala) - EUR/USD was traded heavily into the London open before rebounding, sitting at 1.3860 in Asian markets.
The focus again has been with regards to the EU being reluctant to impose economic sanctions on Russia. Strategists at RBS explained that since doing so, “this also damages its own economic performance. However, the trend appears increasingly likely to force the issue. They may be contributing to some of the risk –off market behaviour and a weaker EUR”. They went onto to say however, “while tensions in the Ukraine add to risk, the periphery spreads continue to tighten with Portuguese bonds rallying sharply in recent days, while there has been some consolidation in others. This is keeping the EUR supported in the face of Ukraine risk. RBS Credit strategists continue to look for gains in the periphery”.
EUR/USD Levels
The 20 DMA is 1.3738, the 50 DMA is 1.3666 and the 200 DMA is 1.3465. RSI (14) reads 42.34. Supports are ascending from 1.3775, 1.3808, 1.3825, 1.3853. Spot is 1.3862 while resistances are 1.3897, 1.3915, 1.3940 and 1.3979.
The focus again has been with regards to the EU being reluctant to impose economic sanctions on Russia. Strategists at RBS explained that since doing so, “this also damages its own economic performance. However, the trend appears increasingly likely to force the issue. They may be contributing to some of the risk –off market behaviour and a weaker EUR”. They went onto to say however, “while tensions in the Ukraine add to risk, the periphery spreads continue to tighten with Portuguese bonds rallying sharply in recent days, while there has been some consolidation in others. This is keeping the EUR supported in the face of Ukraine risk. RBS Credit strategists continue to look for gains in the periphery”.
EUR/USD Levels
The 20 DMA is 1.3738, the 50 DMA is 1.3666 and the 200 DMA is 1.3465. RSI (14) reads 42.34. Supports are ascending from 1.3775, 1.3808, 1.3825, 1.3853. Spot is 1.3862 while resistances are 1.3897, 1.3915, 1.3940 and 1.3979.