Ahead of the holidays and along with decreasing
liquidity the EUR/USD pair settled in narrow range today. The pair was seen
very weak at the beginning of the week and on Tuesday reached lowest point for
the last 14 years at 1.0351. Next days the pair recovered to higher levels and
even tested the psychological mark 1.0500.
RSI moved from negative territory and currently is
placed around mid-line. Stochastic crossed below the overbought area and is
displaying strong bearish momentum.
The short-term resistance is seen at 1.0520 (100-day
moving average) and higher at 1.0665 (late November and 14th
December highs). Looking to downwards support is now located at 1.0365 (15th
December low) and lower at 1.0320.
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