EUR/USD gets ready for Christmas Eve around the world below 1.3200

FXstreet.com (Barcelona) - As the world is setting up for Christmas Eve, just few hours to go for it in Auckland, New Zealand, as the ones they lead in opening the new year as well, all markets were closed in Asia-Pacific except Hong-Kong, Shanghai and Singapore, that opened for half-day trading. Until they did, EURUSD opened to the downside in the interbank market pre opening printing session lows at 1.3163 from previous weekly close at 1.3188.

And that has been about it all Asian session long. The pair recovered from mentioned low moments after printed the lows, and has been ever since in the tight range 1.3170/85, with some upside bias as soon as Shanghai/Hong-Kong opened. Asian share markets have been slightly to the upside, despite the fact US SP500 futures opened to the downside, and still trading around session lows, down -0.55% from previous close on Friday.

No news, no liquidity, no nothing. Just waiting until Dec 27th for Washington lawmakers to come back from Christmas holidays and start US 'fiscal cliff' negotiations again, as time keeps running against them. And all there is till then are rumors of perhaps positions getting closer, as late New York Times article Sunday evening saying attention had turned to the Senate, "where some Republicans on Sunday endorsed President Obama's call for a partial deal," but nothing else.

From the technical picture, "and for the short term," says Valeria Bednarik, Chief Analyst at Fxstreet.com, "there is a slightly bearish tone in the EURUSD hourly chart, as price trades below 20 SMA while indicators head south below their midlines, suggesting a ride towards the 1.3140 support area, 38.2% retracement of the latest daily run," the analyst notes.

At the same time, for FXstreet.com Independent Analyst Richard Lee, the: "EURUSD's short term bias remains bearish" as well, pointing to the "resistance firmly established above at 1.3247," as major barrier to the upside, adding: "Any decline at this point would target the 1.3120 figure, with a violation lower likely shifting sights to the 1.3036 support barrier," the analyst concludes.

For the day ahead, as Europe prepares itself for the holiday season too, except any black boxes going wild move, markets are expected to remain calm, with some countries open for half-day trading, specially future markets, but mostly all due to remain closed. The economic agenda is pretty much blank until Thursday the 27th. Merry Christmas to all.