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Forex pairs in this Article » EUR/USD (Barcelona) - The EUR/USD has turned back to the downside after trading up to 1.3293 in the first couple of hours of trading. Traders await US data in the morning and guidance from European stocks prior to that.

EUR/USD floating around until European markets open

The EUR/USD will be pushed around by central bank decisions, major employment reports and a heavy flow of additional economic data this week. The first data points of note will be the pending home sales data and the Dallas Fed Manufacturing Survey early on in the US.

Technical outlook for EUR/USD

Technicians remain bullish of the EUR/USD in the short-term with an upside target of 1.3417. Very short-term resistance comes in at Fibonacci projections at 1.3321 and 1.3364. Short-term support comes in at Thursday’s low of 1.31649 and is followed by additional support at the 7/18 closing low of 1.3107.
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