EUR/USD to consolidate around 1.0520-1.0580 range – OCBC

EUR/USD failed to make a decisive move in either direction on Wednesday. Economists at OCBC Bank expect the pair to trade within a 1.0520-1.0580 range today.

Await outcome of the US NFP on Friday

“Day ahead, expect EUR to consolidate around 1.0520-1.0580 range within wider perimeters of 1.0460-1.0680 range as we await outcome of the US NFP event risk tomorrow.”

“Resistance at 1.0640 (21-Day Moving Average), 1.0680 (23.6% fibo) and 1.0720 (50 DMA).”

“Support at 1.0520 (100 DMA), 1.0460 (38.2% fibo retracement of Sep low.”