EUR/USD upside capped at 1.3045

FXstreet.com (Barcelona) - Earlier today during European trading, the EUR/USD traded in the heights of 1.3045 (session high), which capped any such movement higher, culminating in a general easing of the pair.

At the time of writing, the pair has now moved back to 1.3022/25, still holding in positive territory up +0.22% Monday. The Mataf.net analyst team has calculated short-term resistive measures for the EUR/USD at 1.3053, ahead of 1.3103, and finally 1.3157. Should the pair eliminate any of its gains or move lower, supports will be encountered at 1.2949, then 1.2895, and eventually 1.2845.

According to the Technical Analyst Team at ICN.com, “Over daily basis, we notice stability above 23.6% correction of the descending wave starting from 1.3711 levels toward the bottom at 1.2477, this correctional level resides at 1.2970 levels. The EUR/USD has also stabilized above key support level of the bullish wave and above its linear regression indicators. Therefore, trading above 1.2880 will be considered positive this week, while stability above 1.2945 is more positive.”