The pair practically remained unchanged during yesterday's session at 1.0856. Market participants did not set a clear direction after trading within the extreme values 1.0899 and 1.0819. Technically outlook in the short term remains neutral, as EUR/USD continues to move within the 1.0995 and 1.0805.
On yesterday session the EURUSD went back and forward without any clear direction and closed in the middle of the daily range, in addition managed to close within previous day range, suggesting sideways action for the next couple of days.
The pair closed below the 10 but above the 50-day moving average that continues acting as a dynamic support.
The key levels to watch are: 200-day moving average at 1.1048 (resistance), previous swing high at 1.0992 (resistance), 10-day moving average at 1.0854 (resistance), the 50-day moving average at 1.0816 (support) and the last swing low at 1.0711 (Support).
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.