EURUSD Summer Blues

08 Aug

The EURUSD has been slowly drifting around in a range so far this week.  The pair has touched the bottom and top of the range without too much excitement.  Support begins at 1.2330 and resistance begins at 1.2440.  In early trading Wednesday the pair bounced of resistance at 1.2330 but could not gather much momentum.  A push above 1.24 could open up another test of 1.2440.  Data flow out of Australia and China in early Asian trading, could spark a movement in risk that may knock the pair out of its doldrums.

Sup      1.2330

Res       1.24            1.2440

Keane Insight:  Consolidation in a narrow range.  Waiting for a break in either direction.


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