- Robert Kaplan, Dallas Fed President (based on Reuters)
EUR/USD traded in a limited range on Monday amid lack of fundamental drivers throughout the day. By the end of American session the pair dipped down to the weekly at 1.0860. Strengthened by 20-day , this support is expected to contain initial losses, unless any shocks happen. Additional demand is represented by a dense technical area at 1.0830/00 (55-day , monthly PP). Given that the first major resistance is a two-month downtrend at 1.0922, we expect EUR/USD to hover in a tight range in the next 24 hours.
Majority of the traders over is unchanged at ten percentage points, while 100-pip pending orders are equally divided between the long and short market participants today.