Forex: EUR/USD remains trapped in a range
Forex pairs in this Article »
EUR/USD
FXstreet.com (Córdoba) - The euro continues to consolidate in a tight range against the greenback as the shared currency lost momentum after reaching a fresh 7-month high of 1.3185 during the Asian session.
Despite the risk appetite visible in US stocks, the EURUSD has been unable to extend gains and instead has spent most of the day within 1.3145 and 1.3185. At time of writing, the pair is trading at the 1.3160 area, virtually unchanged since opening.
As for technical levels, on the upside, if the EURUSD manages to break above 1.3185, next resistances are seen at 1.3200 (psychological level) and then at 1.3285 (May 1 high). On the downside, immediate supports could be found at 1.3145 (intraday low), 1.3120 and the 1.3100 mark.
Despite the risk appetite visible in US stocks, the EURUSD has been unable to extend gains and instead has spent most of the day within 1.3145 and 1.3185. At time of writing, the pair is trading at the 1.3160 area, virtually unchanged since opening.
As for technical levels, on the upside, if the EURUSD manages to break above 1.3185, next resistances are seen at 1.3200 (psychological level) and then at 1.3285 (May 1 high). On the downside, immediate supports could be found at 1.3145 (intraday low), 1.3120 and the 1.3100 mark.
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