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The EUR/USD pair trades dead flat as investors await services PMI reports across the Eurozone, while assuming Greek fears remain subdued.
Stuck in a 30-pip range
The pair has been restricted in a narrow range of 1.1483-1.1453 since the early Asian session following sharp gains seen in the previous session. Fresh buying demand emerged around the Jan 16th low of 1.1458 levels. Meanwhile, the upside is capped at 1.1483 levels, after having failed to sustain gains above 1.15 levels in the previous session.
The pair may break out of the range after the release of the services PMI report. Moreover, a strong services activity report in Germany along with an increase in aggregate Eurozone services activity could push the pair back above 1.15 levels.
EUR/USD Technical Levels
The immediate resistance is seen at 1.15 levels, above which the pair could re-test the previous session’s high at 1.1535 levels. On the flip side, a break below 1.1453 shall push the pair down to 1.1420 levels.
Stuck in a 30-pip range
The pair has been restricted in a narrow range of 1.1483-1.1453 since the early Asian session following sharp gains seen in the previous session. Fresh buying demand emerged around the Jan 16th low of 1.1458 levels. Meanwhile, the upside is capped at 1.1483 levels, after having failed to sustain gains above 1.15 levels in the previous session.
The pair may break out of the range after the release of the services PMI report. Moreover, a strong services activity report in Germany along with an increase in aggregate Eurozone services activity could push the pair back above 1.15 levels.
EUR/USD Technical Levels
The immediate resistance is seen at 1.15 levels, above which the pair could re-test the previous session’s high at 1.1535 levels. On the flip side, a break below 1.1453 shall push the pair down to 1.1420 levels.
