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25 Feb 2014
EUR/USD struggling for direction
FXStreet (Córdoba) - The EUR/USD remains trapped within a narrow range as markets struggle for direction and with US data offering little inspiration.
After a failed attempt seen during the European session, the EUR/USD is threatening once again the 1.3770 resistance area. At time of writing, the EUR/USD is trading around 1.3755, recording a 0.2% gain Tuesday.
EUR/USD technical perspective
From a technical view, Valeria Bednarik, chief analyst at FXStreet notes that the EUR/USD holds a positive tone but lacks momentum. "Early data failed to trigger a bullish rally and stocks trade in red, which helps keeping investors in cautious mode", says Bednarik. "If something, consumer confidence in the US can trigger some action on this American session, albeit won't be expecting much for these last days of the month".
After a failed attempt seen during the European session, the EUR/USD is threatening once again the 1.3770 resistance area. At time of writing, the EUR/USD is trading around 1.3755, recording a 0.2% gain Tuesday.
EUR/USD technical perspective
From a technical view, Valeria Bednarik, chief analyst at FXStreet notes that the EUR/USD holds a positive tone but lacks momentum. "Early data failed to trigger a bullish rally and stocks trade in red, which helps keeping investors in cautious mode", says Bednarik. "If something, consumer confidence in the US can trigger some action on this American session, albeit won't be expecting much for these last days of the month".