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EUR/USD Daily Forecast – 12 January

Monday, Jan 11 2016

Euro was initially pushed higher in the course of the yesterday's session, but found area around 1.0970 level to be to resistive at the moment and spent rest of the session in a decline, with a support at 1.0850 level. With no major data releases tomorrow, pair is likely to find support around 1.08 handle, if we see break below initial support around 1.0850 area, while resistance is set above 1.0970 level.

On a long-term basis, euro remains within its consolidation range, now between 1.07 and 1.1050 handle and until we see break below or above one of these key areas we would stay on the sidelines and wait for a more clear picture, though resistive candles around 1.10 handle would be nice short-term selling signal.

More in this category: « GBP/USD Daily Forecast – 12 January AUD/USD Daily Forecast – 13 January »

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