EUR/USD Daily Forecast – 25 December

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Thursday, Dec 24 2015

After it was initially pushed higher, euro spent most of the yesterday's session in a tighter range within 20 points. Pair has formed support around 1.09 handle and with Christmas Day tomorrow, we cannot expect any larger movements.

Pair should find some amount of support around 1.0940 level and resistance above 1.0980 level, that has offered resistance in the course of the last week, so these would be our short-term buying and selling points. With holiday season beginning we would not place any larger bids at the moment, since pair is still within its consolidation range between 1.08 and 1.1050 handle and there is no clear trend. However, we do recognize that break below 1.08 handle, would lead towards 1.05 handle.

More in this category: « GBP/USD Daily Forecast – 25 December AUD/USD Daily Forecast – 28 December »

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