The EUR/USD has shown little progress since the week started, trading within 15 pips for the last 2 sessions: with no data to drive markets, and loads of US fundamental readings in between Wednesday and Friday, should no surprise the dullness of this first day of the week that will likely extend into Tuesday. US session will bring local PMI and housing readings which can imprint some temporal action to the market, but it will likely be short lived.
Technically, the 4 hours chart shows indicators attempting to correct higher from oversold levels, while price stands well below its 20 SMA, pressuring the 1.3440 static resistance level: some follow through above it should see price extending its upward move up to 1.3475, where sellers are expected to halt the advance. Below 1.3420 on the other hand, the movement can extend towards 1.3880, next static support level.
View Live Chart for EUR/USD
Technically, the 4 hours chart shows indicators attempting to correct higher from oversold levels, while price stands well below its 20 SMA, pressuring the 1.3440 static resistance level: some follow through above it should see price extending its upward move up to 1.3475, where sellers are expected to halt the advance. Below 1.3420 on the other hand, the movement can extend towards 1.3880, next static support level.
View Live Chart for EUR/USD
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