EUR/USD: Recent 1.0620-1.0720 range could hold – OCBC

EUR/USD continued to trade in a subdued range at the start of the week. Economists at OCBC Bank expect the world’s most popular currency pair to remain confined within 1.0620-1.0720.

Risks remain skewed to the downside

“Risks remain skewed to the downside but the range of 1.0620-1.0720 should hold.”

“Support at 1.0610, 1.05 and 1.0460 (38.2% fibo retracement of September low to February high).”

“Resistance at 1.0730 (50-Day Moving Average) and 1.08 (21-DMA).”

See – EUR/USD: Downside pressure to build on a clear daily close under 1.0680 – Scotiabank