The EUR/USD maintains the heavy tone, having traded as low as 1.2663 this Monday and with the upside so far limited by the 1.2700 figure. Confidence sentiment in Europe again missed expectations with Business Climate and the Economic Sentiment Indicators below expectations, and Consumer Confidence as expected at negative lows of -11.4. The 4 hours chart shows however no directional strength at the time being, albeit the pair remains clearly biased lower: 20 SMA presents a strong bearish slope above current price, and indicators stand flat well into negative territory.
A downward continuation below 1.2660 should see the pair approaching 1.2600/20 price zone, while some steady consolidation above 1.2700 may see an upward correction extending towards recent intraday highs of 1.2760.
View Live Chart for EUR/USD
A downward continuation below 1.2660 should see the pair approaching 1.2600/20 price zone, while some steady consolidation above 1.2700 may see an upward correction extending towards recent intraday highs of 1.2760.
View Live Chart for EUR/USD
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