FXstreet.com (Córdoba) - The setback of the euro versus the dollar was contained by the 1.2270 zone, from where EUR/USD bounced back above the 1.2300 mark to print a fresh weekly high of 1.2329 in recent dealings, as stocks erase losses in Wall Street.
However, as investors remain sidelined of making big moves ahead of central banks' meetings, including the Fed announcement on Wednesday and the ECB on Thursday, EUR/USD remains inside the broader 1.2210/1.2340 range, unable to set fresh direction, with the intraday trend mainly driven by European headlines.
At time of writing, EUR/USD is trading at the 1.2320 zone, posting a 0.4% rise on the day. On the upside, if EUR/USD manages to break above 1.2340, next resistances are seen at 1.2390, Friday's high, and 1.2410.
On the downside, the 20-hour SMA at the 1.2270 area should offer immediate support, followed by the 100-hour SMA at 1.2250 and the 200-hour SMA around 1.2200.
However, as investors remain sidelined of making big moves ahead of central banks' meetings, including the Fed announcement on Wednesday and the ECB on Thursday, EUR/USD remains inside the broader 1.2210/1.2340 range, unable to set fresh direction, with the intraday trend mainly driven by European headlines.
At time of writing, EUR/USD is trading at the 1.2320 zone, posting a 0.4% rise on the day. On the upside, if EUR/USD manages to break above 1.2340, next resistances are seen at 1.2390, Friday's high, and 1.2410.
On the downside, the 20-hour SMA at the 1.2270 area should offer immediate support, followed by the 100-hour SMA at 1.2250 and the 200-hour SMA around 1.2200.
