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10 Mar 2014
EUR/USD holds above 1.3850
FXStreet (Córdoba) - The EUR/USD continues to consolidate in a narrow range below 1.3900 Monday, unable to set a fresh short-term bias as the pair takes a breather following last week's rally.
The solid US nonfarm payrolls reading tempered the EUR/USD rally that reached a fresh 2014 high of 1.3914 Friday, but the pair has found support at the 1.3850 area so far. In the absence of economic events or major data release, the EUR/UJPY has spent the day in a range, currently trading at 1.3870, virtually unchanged since opening.
EUR/USD technical outlook
Valeria Bednarik, chief analyst at FXStreet notes that EUR/USD presents a pretty neutral short term stance, "With little fundamental data around, the pair will likely maintain the range, with dips down to 1.3850 seen as short term buying opportunities", said the analyst.
The solid US nonfarm payrolls reading tempered the EUR/USD rally that reached a fresh 2014 high of 1.3914 Friday, but the pair has found support at the 1.3850 area so far. In the absence of economic events or major data release, the EUR/UJPY has spent the day in a range, currently trading at 1.3870, virtually unchanged since opening.
EUR/USD technical outlook
Valeria Bednarik, chief analyst at FXStreet notes that EUR/USD presents a pretty neutral short term stance, "With little fundamental data around, the pair will likely maintain the range, with dips down to 1.3850 seen as short term buying opportunities", said the analyst.