EUR/USD is lethargic on quiet Asian session

FXStreet (Moscow) - EUR/USD is sandwiched in a narrow 10-pips range in Asia, waiting for the European traders to join the game.

Profit-taking, please!

Pretty volatile week for the single currency as Draghi staged a show once again. EUR/USD dropped to the important upside trend line from mid-2013. Daily close below close below 1.3740 might solidify the bearish case and pave the way to the next ambitious target at 1.3500. Today the calendar is empty, so we might see some profit taking from oversold levels, but the upside will be limited by minor offers at 1.3800.

What price levels and patterns have to be considered?

Resistance can be found ahead of spot at 1.3758 [Last Price], 1.3762 (Daily High), 1.3782 (Hourly 20 EMA), 1.3783 (Daily Classic PP), 1.3820 (Daily Classic R1) and 1.3832 (Weekly Classic PP).

Support below can be found at 1.3758 (Monthly Low), 1.3758 (Weekly Low), 1.3754 (Daily Open), 1.3749 (Daily Low) and 1.3745 (Yesterday's Low).