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EUR/USD consolidating between 1.2500 and 1.2570 – FXStreet

FXStreet (Barcelona) - Matias Salord, Analyst at FXStreet sees the EUR/USD pair moving trendless in a consolidation manner, but holding a bearish tone after the Eurozone and US economic data release.

Key Quotes

“The EUR/USD is moving in a consolidating mode, without a clear trend for the day, but holding a bearish tone after Eurozone and US economic data, but as long as it holds above 1.2500, declines would be limited; a break below could trigger a bearish rally, targeting initially 1.2475 and below here 1.2450.”

“To the upside the euro has been unable to break above 1.2570; it needs a consolidation above to gain strength and break the current trading range.”

“Technical indicators in the 1-hour and 4-hours charts show indicators mixed. The 4-hour chart is at an important support level, that could favor a rebound, but below 1.2500 the scenario could change.”

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