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EUR/USD turns flat after failing at 1.2440

FXStreet (Córdoba) - EUR/USD was confined to a narrow range in an uneventful session Tuesday in the absence of first-tier data and amid low liquidity given the US holiday.

EUR/USD managed to recover from daily lows sub-1.2400 but the bounce was capped by the 1.2440 area, leaving the pair directionless. At time of writing, EUR/USD is trading at 1.2418, virtually unchanged on the day.

EUR/USD technical perspective

“Momentum turned lower around its midline while RSI remains in negative territory, lacking clear directional strength”, said Valeria Bednarik, chief analyst at FXStreet. “The 1.2370/1.2485 range should hold for the rest of the day, with market likely resuming activity on Wednesday’s European session”.

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