23 Dec 2013
EUR/USD holds in small range, sideways below 1.3700
FXstreet.com (Córdoba) - The EUR/USD is trading at initial hours of the week at 1.3675 at around the same price level it closed last Friday. The Euro posted the first weekly loss against the US dollar since early November, after being unable to rally above 1.3800.
EUR/USD technical outlook
The pair remains trading sideways in the short-term, between 1.3690 and 1.3665. According to Valeria Bednarik, Chief Analyst at FXstreet.com the hourly chart shows the downside held at the daily ascendant trend line coming from November low at 1.3293, located currently at 1.3630. “In the 4 hours chart a strongly bearish 20 SMA offers dynamic resistance around 1.3690, while indicators turn south in negative territory, after correcting oversold readings.”
Bednarik points out that in the next days we should expected no major movements considering Japan is on bank holidays and occidental world on vacations for the next two weeks.
EUR/USD technical outlook
The pair remains trading sideways in the short-term, between 1.3690 and 1.3665. According to Valeria Bednarik, Chief Analyst at FXstreet.com the hourly chart shows the downside held at the daily ascendant trend line coming from November low at 1.3293, located currently at 1.3630. “In the 4 hours chart a strongly bearish 20 SMA offers dynamic resistance around 1.3690, while indicators turn south in negative territory, after correcting oversold readings.”
Bednarik points out that in the next days we should expected no major movements considering Japan is on bank holidays and occidental world on vacations for the next two weeks.