EUR/USD: news from the battlefield
EUR/USD dipped to $1.3280 after having consolidated in the $1.3300/15 area since Tuesday evening.
Despite that, we see that the pair continues the sideways trade, staying quite resilient. At the same time, the upside remains capped by the 2013 trend resistance line. We expect the pair to reverse down from the $1.3340/50 area.
Sell orders are clustered at $1.3320, $1.3340/50 and $1.3400/15, while support is seen at $1.3245/50, $1.3200, $1.3180 and $1.3160.
The main event on the euro zone’s agenda today is the German industrial production (10:00 GMT, improvement is expected). In the US there are no important releases except for the crude oil inventories.
Chart. H4 EUR/USD