Forex: EUR/USD still bid above 100-day EMA
Forex pairs in this Article »
EUR/USD
FXstreet.com (San Francisco) - EURUSD continues to trade above the 100-day EMA in Asia after Wednesday saw the pair operate within a tight 50-pip range around the 1.2550 mark.
"Technical readings are mostly flat in the 1 and 4 hours chart giving no certain clues on direction, with 1.2630 still the key resistance level to overcome to confirm an upside continuation in the pair," comments Valeria Bednarik, Chief Analyst at FXstreet.com in a research note.
The analyst concludes: "A break below today's low may push the pair towards 1.2480 area first, followed later by 1.2440, which comes as the last interesting buying level for the pair in the short term."
At the time of writing, EURUSD is quoted in the 1.2535 price zone, with immediate support noted at 1.2520, 1.2485 and 1.2440, while resistance levels lie at 1.2550, 1.2590 and 1.2630.
"Technical readings are mostly flat in the 1 and 4 hours chart giving no certain clues on direction, with 1.2630 still the key resistance level to overcome to confirm an upside continuation in the pair," comments Valeria Bednarik, Chief Analyst at FXstreet.com in a research note.
The analyst concludes: "A break below today's low may push the pair towards 1.2480 area first, followed later by 1.2440, which comes as the last interesting buying level for the pair in the short term."
At the time of writing, EURUSD is quoted in the 1.2535 price zone, with immediate support noted at 1.2520, 1.2485 and 1.2440, while resistance levels lie at 1.2550, 1.2590 and 1.2630.
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