Quantcast

Flash: EUR heading higher into Dec? - TDS

FXstreet.com (London) – Strategists noted how EUR/USD held within the range of the past week.

Key Quotes:

EUR/USD held within the range of the past week although the pair has remained well supported in recent days and has made another run at key resistance near 1.3560/70 (last week’s high’s, 40-day moving average, 50% retrace of Oct/Nov decline)”.

“Fundamentally, we see little reason to be bullish on the EUR in a broader sense, and short term rate spreads continue to point to a spot rate for EUR/USD that would be more consistent near 1.32; however, we do acknowledge the seasonal pattern …read more