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Forex pairs in this Article » EUR/USD
FXstreet.com (Córdoba) - The EUR/USD continues to consolidate during Tuesday's Asian session around 1.3690. A few minutes ago the pair spiked to the upside hitting at 1.3712 a fresh daily high but pulled back quickly back below 1.3700.
On Monday the Euro posted the second daily gain in a row against the US dollar, extending the recovery after hitting on Friday, a 2-week low at 1.3623.

Low volatility could persist

Markets continue to trade in a low volume environment with many global holidays ahead that could limit EUR/USD movements. Kathy Lien, Managing Partner of BKForex suggests that the movements seen in the market in the last hours could provide currency trades a tasted of what to expect in the next two weeks. “The holidays are upon us and they are typically characterized by low volatility, thin trading volumes and narrow ranges. Occasionally there are breakout moves driven by year-end position adjustments and today's price action in currencies is indicative of profit taking”, says Lien.

EUR/USD technical levels

To the downside support levels could be located at 1.3660 (December 23th lows) and below at 1.3620 (December 20th lows) and 1.3600 (psychological level). To the upside the Euro has been unable to consolidate above 1.3700. Resistance level on top of the mentioned mark might lie at 1.3730 (December 18th lows), 1.3780 (December 17th highs) and 1.3810 (December 11, 18 highs).
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