The EUR/USD pair continues trading range bound below the 1.1000 level, confined to a tight range but maintaining the positive tone seen on previous updates, as buying interest keeps surging on approaches to 1.0955, the 61.8% retracement of the latest daily fall.
The market can briefly return to life during the American session, with the release of the US Goods trade balance and the latest Consumer confidence figures, this last expected to have ticked higher in December to 93.8.
View the Live chart of the EUR/USD
Technically, the 4 hours chart shows that the price is holding above a bullish 20 SMA, which continued advancing and approaches the mentioned Fibonacci level, while the technical indicators remain in positive territory, yet with no directional momentum amid the volume remaining at its minimum expression. The pair can advance up to 1.1040/50 on a break beyond 1.1000, particularly if upcoming US data disappoints, while declines below 1.0955, can lead to a test of the 1.0900/20 price zone.
Latest updates on the EUR/USD Forecast
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