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EUR/USD trading in a relatively tight range on Monday - FXStreet

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik observes that EUR/USD is trading several pips above its weekly opening on Monday.

Key quotes

"With a daily high at 1.2713, the hourly chart presents a very limited positive tone, with price hovering around a bullish 20 SMA but indicators steady in neutral territory."

"In the 4 hours chart 20 SMA offered intraday support at 1.2665 while indicators lose upward potential above their midlines, showing the lack of interest, either side of the board in the pair at this point."

"With a hurdle of US data in less than an hour, levels to watch are 1.2650/60 to the downside and 1.2710 to the upside, as some follow through either side of such range is required to confirm some further directional strength."

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