FXStreet (Bali) - According to Valeria Bednarik, Chief Analyst at FXStreet, EUR/USD is neutral, a picture unlikely to change as long as 1.3330/1.3440 range is maintained.
"EUR/USD gave up further ground Monday, down to a daily low of 1.3352, with the downside limited by a general positive move that drove stocks higher and thus kept high yielders on demand. But for the common currency, it was just enough to prevent fresh year lows, as EUR remains in selling mode."
"Technically, the pair continued to move back and forth in its latest range, closer to the base set at 1.3332, entering Asian session with the hourly chart showing price below moving averages and indicators in oversold levels. In the 4 hours chart the technical picture is mild bearish but still neutral, situation that will extend as long as price maintains the 1.3330/1.3440 range."