EUR/USD apathetic around 1.1400, looks to Brexit

The index remains parked around the 1.1400 area so far.
DXY stays sidelined in the lower end of the daily range.
Markets’ attention remains on developments from Brexit.

Pablo Piovano FXStreet

Following the lack of volatility in the global markets due to the Thanksgiving Day holiday in the US, EUR/USD keeps the trade within the familiar range around the 1.1400 region.

EUR/USD nothing from the ECB, focused on Brexit

Spot paid little-to-none attention to the publication of the ECB minutes of the central bank’s latest meeting. In the so-called ‘Accounts’, the Governing Council kept the prudent, patient and persistent stance regarding to monetary policy.

The central bank also noted that despite risks to growth remain balanced so far, it acknowledged the appearance of some tensions in the financial markets. Furthermore, some members also argued that risks to growth could be tilted to the downside.

Looking ahead, the current negotiations around Brexit are expected to drive the global sentiment for the time being, specially in the risk-associated complex.

EUR/USD levels to watch

At the moment, the pair is gaining 0.22% at 1.1409 facing the next barrier at 1.1502 (high Nov.7) seconded by 1.1505 (55-day SMA) and finally 1.1553 (100-day SMA). On the flip side, a break below 1.1359 (low Nov.20) would target 1.1352 (10-day SMA) en route to 1.1214 (2018 low Nov.12).

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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