Sideways EUR/USD around 1.0400 in quiet trading

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  • Foreign exchange market with low volatility and ranges.
  • The dollar presents mixed results.
  • EUR/USD sideways after halting rises below 1.0450, with support at 1.0380.

The USR/USD is moving around 1.0400, sideways, with a mixed dollar on a low volume day. Most currency pairs are not significantly changed from Thursday’s close.

Wall Street did not operate on Thursday and will do so in a limited way on Friday. This favors low volume and the persistence of limited price ranges. Stock markets rise modestly and so do sovereign bond yields.

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It was known that Germany’s GDP grew 0.4% in the third quarter, above the previously estimated 0.3%. Another report showed a less than expected improvement in the Gkf consumer confidence index in December from -41.9 to -40.2.

With no impactful economic data ahead of us, the focus is shifting to next week, in which inflation figures for the Eurozone and the US employment report will be published for November.

Lateral, without expected changes ahead

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EUR/USD is moving sideways for these sessions. The pair reached a daily high at 1.0429 and then fell to 1.0381, to bounce back to the 1.0400 area. The very short-term outlook favors lateral routes.

In case of surpassing and affirming above 1.0450, the euro will be positioned to extend the bullish run. In the opposite direction, a confirmation below 1.0380 would generate bearish pressure. The next strong support is seen at 1.0300.

The pair is on track for its highest weekly close since mid-June, though it failed to break the previous week’s highs.

technical levels

EUR/USD

Overview
Today’s last price 1.0406
Today Daily Change -0.0007
Today Daily Change % -0.07
Today daily open 1.0413
trends
Daily SMA20 1.0153
Daily SMA50 0.9956
Daily SMA100 1.0029
Daily SMA200 1.0393
levels
Previous Daily High 1.0449
Previous Daily Low 1.0382
Previous Weekly High 1.0482
Previous Weekly Low 1.0272
Previous Monthly High 1.0094
Previous Monthly Low 0.9632
Daily Fibonacci 38.2% 1.0423
Daily Fibonacci 61.8% 1.0407
Daily Pivot Point S1 1.0381
Daily Pivot Point S2 1.0348
Daily Pivot Point S3 1.0314
Daily Pivot Point R1 1.0447
Daily Pivot Point R2 1.0481
Daily Pivot Point R3 1.0514

Source: Fx Street

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