EUR/USD Price Analysis & News
- EUR/USD | Narrow Range Maintained
- EUR/GBP | 200DMA Breached, November Lows in Focus
Aside from the Pound, G10 FX has been unsurprisingly muted as markets wind down for the Christmas period. All eyes remain on an official announcement of a Brexit deal, which is within the next few hours. In light of the risk-on catalyst, safe-haven currencies (JPY, CHF) are on the backfoot against high-beta FX.
G10 FX Intra-day Performance
EUR/USD | Narrow Range Maintained
The pair continues to hover around the 1.22 mark with recent gains underpinned by the wave of Brexit optimism. However, an offsetting factor for a push higher in the Euro is likely due to the pullback in EUR/GBP which has hit fresh 3-week lows. Topside challenges remain at the high 1.22s, while key support is situated at 1.2120-30. That said, EUR/USD is expected to remain in a relatively narrow 1.2160-1.2215 range.
Pivot | 1.2186
Support | 1.2151, 1.2118, 1.2083
Resistance | 1.2219, 1.2254, 1.2288
EUR/GBP | 200DMA Breached, November Lows in Focus
The cross has made a break below the psychological 0.90 handle and 200DMA (0.8983), raising scope for a move towards the November lows situated at 0.8860 in the short-run. However, given seasonal factors, liquidity remains scarce, thus the cross is prone to choppy price action.
Moving Average (MA) Explained for Traders
Pivot | 0.9046
Support | 0.8982, 0.8936, 0.8872
Resistance | 0.9092, 0.9156, 0.9219
EUR/GBP Chart: Daily Time Frame