- The dollar mixed in the market on Thursday, with no clear direction.
- The euro remains among the best performers, surpassing 0.8800 against the pound.
- EUR/USD in the same range for a week now.
The EUR/USD continues to trade flat after failing to break above 1.0660. The Euro rallied as far as that area but then reversed direction and is approaching 1.0600.
In a day without major news and with the year-end festivities ahead, the volume of market operations is decreasing, favoring the persistence of the EUR/USD in a range.
The dollar presents mixed results on Thursday. The DXY is falling 0.10%. Several US economic reports will be released later: the Chicago Fed Activity Index, a new third-quarter GDP growth estimate, the weekly jobless claims report, and the Fed Manufacturing Index. from Kansas.
The euro continues to be firm in the market. The advance of the EUR/GBP above 0.8800 stands out, the highest level since mid-November.
side until further notice
EUR/USD outlook remains sideways. This could change if there is a break above 1.0660, with confirmation, which could lead to an extension to 1.0700 first and then the area of the highs for the month around 1.0735.
The current range has support in the 1.0580 area. If there is a firm break below, the pair would be ready for an extension of the bearish correction. Next supports are seen at 1.0545 and then 1.0505.
technical levels
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
