EUR/USD struggles for direction around the 1.0700 neighbourhood

George Solotarov
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EUR/USD struggles for direction around the 1.0700 neighbourhood

EUR/USD trades in an inconclusive fashion around the 1.0700 region on Thursday. In case the downward bias picks up extra pace, the 55-day SMA at 1.0645 should offer temporary contention prior to the weekly low of 1.0495 (October 13). In the meantime, while below the 200-day SMA at 1.0801, the pair’s outlook should remain negative.

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