EUR/USD confined to a range

FXstreet.com (Córdoba)- EUR/USD failed to extend its rebound above 100 SMA hours located at 1.3760 area and enter a consolidation phase just below that level in the absence of market-moving data or other developments to trigger new movements in the couple.

I fell out of a minimum of 4 days during the European trade 1.3708 but USD EUR/USD lacked momentum to drag the low pair and with the subsequent rebound of SMA capping 100 hours, the EUR/USD pair was limited to a narrow range as investors gear up for the FOMC meeting next week.

EUR/USD levels to watch

EUR/USD is currently trading at 1.3725, 0.2 percent below the opening price, but on track to post a 0.1% weekly gain, the fifth in a row. In terms of technical resistance levels right up to 1.3770 line (daily), 1.3811 (Dec 11) and 1.3832 (October 31). On the other hand, claims are now seen at 1.3708 (daily), 1.3700 (psychological level) and 1.3685 (SMA 10 days).

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