Dollar continued to ease over Asian hours, with local equity indexes down along with US yields. Early Europe, the EUR/USD finds itself pressuring the weekly high, in fact overcoming if for a few pips, up to 1.3220, albeit quickly pulling back down to 1.3200. Data has been far from encouraging, with German unemployment below expected, but unemployment rate unchanged at 6.7%, and EZ economic sentiment down to 100.6.
The technical picture is mild bullish, with price above a flat 20 SMA and indicators in positive territory, but showing no upward strength, offering no directional signs at the time being. With inflation readings for Europe scheduled for Friday, is unlikely to see the pair setting a clear direction today, with the extremes of the range, 1.3150/1.3220 probably containing price action. A strong acceleration through any can trigger some 30 pips move, with 1.3240/50 as a possible bullish target, and 1.3120 to the downside.
View Live Chart for EUR/USD
The technical picture is mild bullish, with price above a flat 20 SMA and indicators in positive territory, but showing no upward strength, offering no directional signs at the time being. With inflation readings for Europe scheduled for Friday, is unlikely to see the pair setting a clear direction today, with the extremes of the range, 1.3150/1.3220 probably containing price action. A strong acceleration through any can trigger some 30 pips move, with 1.3240/50 as a possible bullish target, and 1.3120 to the downside.
View Live Chart for EUR/USD
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