FXstreet.com (Córdoba) - Despite broad USD strength, EURUSD has held pretty well in its recent range around 1.2900 on Wednesday, as investors refrain from taking big positions ahead of tomorrow's ECB decision and US NFP report, due on Friday.

EURUSD bounced from a low of 1.2875 toward a high of 1.2935 during the European session, but failed to sustain gains and pulled back to the 1.2900 comfort zone. At time of writing, EURUSD is trading at the 1.2910 zone, having recently spiked on the back of the ISM services PMI.

From a technical view, "Immediate support at 1.2875 higher base, also bull trendline, holds for now, while today's lower top at 1.2938, equivalent to 01 Oct high, offers initial barrier and lower ceiling of the range, with break of either side to define near-term direction", says Slobodan Drvenica, analyst at Windsor Brokers Ltd. "Strong supports and breakpoints lie at 1.2820/00, while key barriers are 1.2975 and 1.3000".

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Forex pairs in this Article » EUR/USD

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