FXStreet (Córdoba) - The EUR/USD remains steady after Wall Street closing bell, trading around 1.3545. The US dollar is about to end the day with a moderate gain versus the Euro, but continues to trade sideways in the short term.
The pair is about to post the sixth consecutive daily close between 1.3530 and 1.3570, as price action remains limited by a strong support above 1.3500 and the upside capped below 1.3600.
EUR/USD technical outlook
“Technically, the EUR/USD remains unchanged, with the downside favor as per holding near post ECB lows, close also to this year one”, says Valeria Bednarik, Chief Analyst at FXStreet.
According to Bednarik, the hourly chart shows price below moving averages, “with indicators heading south in negative territory, reflecting the dominant bearish tone”.