EUR/USD: little changed ahead of Wall Street's opening
|EUR/USD Current price: 1.1740
The EUR/USD pair trades stable around 1.1740, unable to find a certain direction this Friday. The pair has been quite volatile this week, as negative headlines kept hitting both currencies, and while it faltered once again around 1.1800, and established a fresh 3-week low of 1.1661, the downward potential remains well-limited by the absence of dollar's demand. As said on a previous update, the market is not ready to buy back the greenback, on increasing distrust over Trump's ability to actually do something towards boosting growth. In the meantime, risk aversion leads the way this Friday amid a scarce calendar, with the only relevant release ahead being the preliminary August Consumer Sentiment index, expected at 94.0 from previous 93.4.
The pair maintains a neutral short-term stance early US session, trading below its 100 SMA and around a 20 SMA in the 4 hours chart, yet both moving averages lack clear directional strength. In the same chart, technical indicators hover around their mid-lines, lacking directional strength. A bearish extension could be seen on a break below 1.1690, while a break above 1.1820 should favor additional gains for today, but limited to the 1.1860 price zone.
Support levels: 1.1690 1.1660 1.1620
Resistance levels: 1.1770 1.1820 11860
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.