Forex: EUR/USD stuck around 1.3315 despite wide ranges

FXstreet.com (Barcelona) - EURUSD has been very volatile in the intraday, just to sit flat so far for the week, last at 1.3317, more or less unchanged from NY close price, inside a 1.3309/30 range ever since. The pair had a spike higher to session highs on a broad US down move following CPI data in Australia, just to back off again to the low side of the band, while local share markets show mixed results, and US SP500 futures rests near its fresh 5-year highs above the 1490 points figure.

As Valeria Bednarik, Chief Analyst at Fxstreet.com notes: "the technical readings in the hourly chart hold flat in neutral territory," the analyst says, suggesting: "At this point, a clear break of extremes 1.3310/1.3260 is needed to confirm an intraday trend, with the downside still favored unless a break above 1.3410," she concludes.

Valeria locates support levels at: 1.3290, 1.3250 and 1.3220, while resistance levels at: 1.3330, 1.3350 and 1.3375.