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EUR/USD stuck in a tight range on Thanksgiving

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - EUR/USD has spent the entire day in a range that got tighter and tighter as hours passed by as US markets remained closed in observation of the Thanksgiving holiday.

    EUR/USD edged slightly lower on Thursday for second day in a row, although it managed to hold up above the 1.06 mark. At time of writing, the pair is trading at 1.0605, recording a 0.3% loss on the day.

    Thanksgiving holiday and Black Friday may keep trading subdued for the rest of the week. Looking ahead, ECB policy decision and US nonfarm payrolls report will awaken investors’ interest next week.

    EUR/USD technical levels

    In terms of technical levels, next supports are seen at 1.0565 (7-month low Nov 25), 1.0520 (Apr 13 low), 1.0500 (psychological level) and 1.0462 (2015 low Mar 13). On the flip side, immediate resistances could be found at 1.0662 (10-day SMA),1.0700 (psychological level) and 1.0762 (Nov 19 high).
    For more information, read our latest forex news.

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