EUR/USD holding above 1.3100

FXstreet.com (Barcelona) – Remaining rather quite today, the EUR/USD holds above the 1.3100 support line where it awaits fresh direction over the NY session. The pair currently trades around 1.3115 and finds difficulties to break free to the upside ahead of the US jobless claims.

Valeria Bednarik of the FXstreet Independent Analysis team reports: “Despite last weeks, the pair has reached the 1.3060 area, next bearish target as long as below 1.3135, the fact is that market has not been comfortable selling the cross below 1.3100, and price has managed several rebound once reaching mentioned low. Still, volume is in full shape again, while both technical and fundamentally supported, the bias is bearish for this January.”

Bednarik adds: “Pair behavior once below 1.3100 will be key, as consolidation in between 1.3060 and 1.3110, should suggest a later break lower, targeting then 1.3000/20 price zone. To the upside, immediate resistance comes at 1.3130 yet only above 1.3165, the pair could regain some strength and attempt to reach again the 1.3200 area.”

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