EUR/USD comes closer to 1.3850 resistance

FXStreet (Moscow) - EUR/USD opened the day at 1.3814, and edged higher helped by USD weakness reaching 1.3840 area by the moment.

Consolidation and meditation

Since there is nothing to focus today from fundamental point of view, the pair will be influenced by the technical factors, and market sentiment. The pair came closer to strong resistance level around 1.3850, and it's going to be a serious barrier on the way higher, given the fact it rushed below it on dovish rhetoric from the monetary authorities, and since that time nothing has changed in the ECB position. The consolidation in narrow ranges is highly possible with initial resistance coming at 1.3873, and support at 1.3823.

What are today’s key EUR/USD levels?

Today's central pivot point can be found at 1.3823, with support below at 1.3795, 1.3773 and 1.3745, with resistance above at 1.3845, 1.3873, and 1.3895. Hourly Moving Averages are largely bullish, with the 200SMA at 1.3813 and the daily 20EMA neutral at 1.3807. Hourly RSI is bullish at 62.