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EUR/USD glued to 1.2940/45

FXstreet.com (Barcelona) - The lack of catalyst are weighting on the pair on Monday, keeping the demand subdued and the price action flat-lined in the area of 1.2940/45.

“While we expect EUR/USD to trade in the high 1.20s in the coming months, we acknowledge that risks are skewed to the downside as the likelihood of an early Fed exit has clearly increased. Moreover, we expect volatility to remain elevated due to the high uncertainty about the timing of the exit”, assessed Senior Analyst S.Holbek at Danske Bank.

At the moment, the pair is advancing 0.06% at 1.2943 and a surpass of 1.2994 (high May 24) would then target 1.2998 (high May 22) en route to 1.3030 (high May 14). On the downside, support levels line up at 1.2904 (low May 24) followed by 1.2897 (MA10d) and finally 1.2821 (low May 23).

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