EUR/USD outlook: Directionless Action Expected ahead of Release of Key US Data
The Euro is trading within a tight range on Wednesday, as recovery rally from 1.0349 low failed to clear pivotal barriers at 1.0767 (55DMA/50% retracement of 1.1184/1.0349), but subsequent pullback was strongly rejected and contained by rising 10DMA, keeping the downside protected for now.
Daily studies are mixed and lack clearer direction signal, while traders await releases of key US data/ADP private-sector payrolls and non-farm payrolls in coming days, which are expected to provide fresh signals.
Res: 1.0767; 1.0786; 1.0800; 1.0865.
Sup: 1.0694; 1.0668; 1.0642; 1.0592.
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