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Forex pairs in this Article » EUR/USD (Edinburgh) -The EUR/USD is trading within a narrow range ahead of the opening bell in London on Monday, meandering around 1.3380/85.

EUR/USD empty docket ahead

Absent a calendar in the euro area, market participants will look across the pond for catalysts, as US Durable Goods Orders and the regional manufacturing index by the Dallas Fed are due in the European afternoon. Christin Tuxen, Senior Analyst at Danske Bank, commented, “speculators added significantly to long EUR positions in the week ending 20 August, almost doubling their positioning in just a week’s time and almost solely at the expense of USD, according to IMM data”.

EUR/USD levels to watch

The pair is now losing 0.03% at 1.3380 with the next support at 1.3257 (MA30d) followed by 1.3222 (weekly cloud top) and then 1.3206 (low Aug.15). On the flip side, a breakout of 1.3427 (high Aug.21) would aim for 1.3453 (high Aug.20) and finally 1.3456 (high Feb.14).
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