Filed Under:
Forex pairs in this Article » EUR/USD
FXStreet (Córdoba) - Following a short-lived spike, the EUR/USD quickly returned to its comfort zone around 1.3500 as investors seem unwilling to add positions ahead of the ECB decision and the US nonfarm payrolls.

The EUR/USD reached a 5-day high of 1.3554 but failed to sustain gains and pulled back to the 1.3510 zone, where it is virtually unchanged on the day. Next on tap will be the US January ISM services PMI and Fed speakers.

EUR/USD technical outlook

"Technically, the hourly chart shows indicators horizontal around their midlines and price moving back and forth around a flat 20 SMA, while the 4 hours chart shows a similar picture, with candles showing long wicks either side of the board", says Valeria Bednarik, chief analyst at FXStreet. "There's little to be expected from the pair today, probably confined to this week range until first line news are out later this week".

Bednarik locates next supports at 1.3490, 1.3440 and 1.3500, while she sees resistances at 1.3520, 1.3550 and 1.3590.
comments powered by Disqus