Forex Flash: EUR/USD range bound ahead of key levels – RBS

FXstreet.com (Barcelona) - The EURUSD price action stopped through yesterday's short-term trade at 1.2850. "Following the US Presidential election however, the EURUSD has (relatively) hardly moved and there seems to be little in the way of clues emanating from the charts for the next short term direction; the short term ranging theme that has been prevalent over the last 2 weeks looks set to continue." writes William Moore, a Technical Markets Strategist at RBS.

"Range bound markets are all about getting the right levels to fade the short-term direction. Today the important levels we see are at the 1.2884/90 region, the cluster of lows between the 26 - 30 October and the next retracement at 1.2944." Moore predicts.