EUR/USD trading in a tight range - FXStreet

By FXstreet.com | Updated August 04, 2014 AAA

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik points out that EUR/USD iremaines little moved on Monday, trading in a tight 20 pips range below the 23.6% retracement of its latest daily slide around 1.3430.

Key quotes



"Technically, the 4 hours chart maintains a mild bullish tone, with indicators aiming slightly higher above their midlines while price stands above a flat 20 SMA currently acting as immediate support in the 1.3400 area."



"The level to watch to the upside is 1.3440, a few pips above the mentioned Fibonacci level, as price was unable to overcome it for most of last week."



"Above it a short term rally towards 1.3470/80 area is possible, although more gains are not seen for today."



"Below the 1.3400 figure on the other hand, the pair is exposed to a retest of this year low of 1.3366, while a break below should point to a downward continuation towards the 1.3295 level, during the upcoming sessions."



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