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EUR/USD keeps the tight range near 1.0620

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 26, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The single currency remains unmotivated on Thursday, taking EUR/USD to the 1.0620 area against the backdrop of flat volatility and thin trade.

    EUR/USD still directionless

    The pair keeps the consolidative pattern around the 1.0620 area, mainly driven by the inactivity in the US markets following the Thanksgiving Day holiday.

    In addition, credit figures from Private Loans and M3 Money Supply in the euro area have been largely bypassed by market participants, which remain more focused on the upcoming ECB meeting and the firm possibility of further easing by the central bank.

    EUR/USD levels to watch

    As of writing the pair is up 0.01% at 1.0618 and a breakout of 1.0829 (high Nov.12) would aim for 1.1054 (200-day sma) and finally 1.1078 (100-day sma). On the other hand, the next support aligns at 1.0519 (low Apr.13) en route to 1.0456 (2015 low Mar.16).
    For more information, read our latest forex news.
     

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