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28 Nov 2013
EUR/USD hovering around 1.3600
FXstreet.com (Córdoba) - Following a limited correction, the EUR/USD managed to resume the advance amid slow price action due to the US Thanksgiving holiday.
The EUR/USD found support at the 10-hour SMA around 1.3485 and regained the 1.3600 mark, supported by higher-than-expected German CPI figures. However the lack of follow-through has confined the pair to a phase of consolidation on both sides of 1.3600. At time of writing, EUR/USD is trading at the 1.3605 zone, recording a 0.2% gain since opening.
EUR/USD technical outlook
"Technically, the hourly chart shows a quite neutral stance albeit positive, with indicators flat above their midlines and 20 SMA flat below current price", says Valeria Bednarik, analyst at FXstreet.com. "In the 4 hours chart a slightly positive tone prevails, yet 1.3660 will likely keep the upside limited today".
In terms of technical levels, Bednarik locates immediate resistances at 1.3620, 1.3660 and 1.3710. On the other hand, support levels are seen 1.3530, 1.3490 and 1.3440.
The EUR/USD found support at the 10-hour SMA around 1.3485 and regained the 1.3600 mark, supported by higher-than-expected German CPI figures. However the lack of follow-through has confined the pair to a phase of consolidation on both sides of 1.3600. At time of writing, EUR/USD is trading at the 1.3605 zone, recording a 0.2% gain since opening.
EUR/USD technical outlook
"Technically, the hourly chart shows a quite neutral stance albeit positive, with indicators flat above their midlines and 20 SMA flat below current price", says Valeria Bednarik, analyst at FXstreet.com. "In the 4 hours chart a slightly positive tone prevails, yet 1.3660 will likely keep the upside limited today".
In terms of technical levels, Bednarik locates immediate resistances at 1.3620, 1.3660 and 1.3710. On the other hand, support levels are seen 1.3530, 1.3490 and 1.3440.