Trader, analyst and instructor with a 6-year experience

EUR/USD stuck in a range

Kira Iukhtenko, FX BAZOOKA analyst

There is not much changed in EUR/USD since yesterday. On Wednesday the pair is trading in an extremely narrow $1.3748/37 range, holding below the recent highs of $1.3773. Bulls have evidently given ground, but there hasn't been any clear signs of a bearish reversal yet. 

A break below the key $1.3685 support would change the picture from neutral to bearish, confirming a double top pattern and opening the way to $1.3540 and then $1.3410. Next resistance above $1.3770 lies at $1.3800, $1.3830 and $1.3890.

Chart. H4 EUR/USD


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