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EUR/USD erases gains in slow session

FXstreet.com (Córdoba) - The euro continues to trade within a narrow range during the US holiday although it has begun to lean to the downside and dipped into negative ground after the European close.

EUR/USD was rejected from the 1.2950 area and turned lower, sliding to a session low of 1.2920 in recent dealings. At time of writing, EUR/USD is trading around 1.2930, virtually unchanged since opening. For the rest of the day, trading is expected to remain subdued given that US markets are closed.

As for technical levels, immediate supports are seen at 1.2905 (low May 24) and 1.2820 (low May 23), while on the upside resistances could be found at 1.2950 (daily high) and 1.2992 (high May 24).

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