EUR USD trading nearly unmoved
10/3/2016 1:12:24 PM
The single currency is trading nearly unmoved against its American peer at the beginning of the week, with EUR/USD floating over the 1.1230 region.
The pair is expanding its merging pattern ahead of the opening bell in Euro land on Monday, alternating gains with losses as markets keep struggling for direction amongst inactivity in Australia, China and other countries of the Asia-Pac region.
Meanwhile, spot carry on to navigate a narrow range, mainly restricted by the persistence line off 2016 top, today around 1.1260 and the 2014-2016 support line, currently near 1.1120.
The pair is now losing 0.09% at 1.1230 facing the immediate support at 1.1164 followed by 1.1120 and then 1.1043. On the other hand, a break above 1.1260 would aim 1.1280 en route to 1.1330.