The EURUSD Remains in Narrow Range
The EURUSD was lowly decreasing towards the 30th figure first, then – to the level of 1.3015. Afterwards, it started increasing to the resistance at 1.3070 and dropped back to 1.3033 during the Asian session. The first day of the new trading week turned out to be like this, and there happened nothing new to the EURUSD pair. It remains in a narrow range, which will surely be broken, but hardly anyone knows the time period and the direction as well. It is indisputable that if the euro passes the support at around 1.3000, the rate will decrease towards the 29th figure. If the bulls make their way above 1.3070-1.3100, their chances to test the 1.3200 level will be dramatically increased.
Author: Anthony Porter, IAFT Analyst
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