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EUR/USD analysis: The pair is still trading below 1.1340.

  • 27 December, 2021
  • 5:55 pm EET

EUR/USD analysis: The pair is still trading below 1.1340.

EUR/USD continues to trade sideways near 1.1340.

EUR/USD

Last week, the EUR/USD failed again to break through the 1.1340 barrier level. At 1.1300 on December 27, the currency pair was trading above the weekly simple pivot point and the 200-hour simple moving average. Meanwhile, the currency pair was ignoring the 50-hour and 100-hour simple moving averages for support and resistance.

If the rate falls below the 200-hour simple moving average, the weekly simple pivot point, and the 1.1300 mark, the previous week’s low levels and the weekly S1 simple pivot point might halt the loss at 1.1260. Take note of the December low level zone below 1.1240 in the chart below.

A prospective rally in the Euro versus the US Dollar, on the other hand, would have to break through the 1.1340 resistance level before hitting the December high levels near 1.1360. Note the weekly R1 simple pivot point at 1.1368 and the late November high level at 1.1380 higher above the rate.

EUR/USD continues to trade sideways near 1.1300.

On Monday, the EUR/USD remains in a relatively tight range around 1.1300, as trade volumes remain low following the Christmas holiday. There will be no high-tier data releases for the rest of the day, and the day’s lackluster trading action is expected to continue.

The EUR/USD pair is trading in a 30-pip range above 1.1300, with no direction in sight due to a lack of volume. Markets are in winter vacation mode, which means volumes are at a bare minimum and the macroeconomic calendar is devoid of events.

Most stock exchanges are open for business, however activity is minimal. Despite this, most European markets are rising, lending assistance to Wall Street. Meanwhile, government bond yields have fallen slightly, with the US 10-year Treasury note currently yielding roughly 1.49 % .

 

 

 

 

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