FXStreet (Córdoba) - The EUR/USD rose on Friday despite risk appetite and finished the week trading around 1.3400 slightly below the price it had a week ago.



The pair posted the fifth weekly decline in a row but did not reached fresh lows for the current year, like it did in the previous four weeks. Price action remained limited , trading in a small range with resistance below 1.3410/20 and support above 1.330.



EUR/USD consolidates after big decline

The pair continues to move with a downside bias on a wider perspective but during the last days showed signs of stabilization, that could be followed by another bearish run or a corrective rally.



“While we expect EUR/USD to trend lower medium-term, we still expect the pace of USD gains to be moderate and constrained by a dovish FOMC. That said, in recognition of the USD’s recent strength we have revised down our 12 month forecast for EUR/USD to 1.28 from 1.30,” affirmed analysts at Rabobank.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Euro Posts Severe Gap, Risk Sensitive Markets Tumble to Start Week

  2. Forex News

    Greece Will Default on IMF Loan; Referendum Holds Fate on Eurozone Exit

  3. Forex News

    Trading Leverage – A Real Look at how Traders May Use it Effectively

  4. Forex News

    EUR/USD stages big recovery - FXStreet

  5. Forex News

    Referendum, chaos and a Grexit? - ING

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!