Forex: EUR/USD within familiar 1.3260-1.34 range

FXstreet.com (Barcelona) - The Euro/US Dollar exchange rate remains calmly established within its 7-day long 1.3260 -1.3400 range, with trading activity on Monday extremely depressed on very thin liquidity and low volumes. Since the market seems to be only focused on the BoJ monetary policy announcement, even interest to trade the EURUSD disappeared.

Technically, EURUSD is marginally weaker in Asia around 1.3310. Valeria Bednarik, chief analyst at FXstreet.com, sees "the pair lacking technical definitions both, in the 1 and 4 hours chart, as indicators in both time frame remain flat around their midlines."

For the short term, "the EURUSD maintains the slightly negative tone seen early: below 1.3290, the pair may attempt to revisit past week lows around 1.3255 while the upside seems well caped at the time being" Valeria adds.