The EUR/USD pair bounced from its year low of 1.2219, extending up to 1.2272 early in the European session. But volume has gone on holidays and the pair trades in slow motion within Friday’s range. From the fundamental side, the only data released in the EZ was German import price index, down yearly basis 2.1%, below market expectations of a 1.9% drop.
Technically, the 4 hours chart shows indicators recovering from oversold levels, but well below its moving averages, with 20 SMA presenting a strong bearish slope above currently around 1.2300. The overall bearish trend remains firm in place, although not much action should be expected these days, with the pair most likely confined to the 1.22/23 range.
View Live Chart for EUR/USD
Technically, the 4 hours chart shows indicators recovering from oversold levels, but well below its moving averages, with 20 SMA presenting a strong bearish slope above currently around 1.2300. The overall bearish trend remains firm in place, although not much action should be expected these days, with the pair most likely confined to the 1.22/23 range.
View Live Chart for EUR/USD
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