The EUR/USD pair went back and forth during the session on Tuesday, essentially going nowhere by the end of the day. We formed a very neutral candle, and it appears that we are simply waiting for some type of momentum to reenter the marketplace, and then finally dictate which direction we want to go. At this point in time, it should be noted that the 200 day exponential moving average is still above, and as a result provides a bit of resistance. However, the 1.3000 level still offer support just below, extending all the way down to 1.2950 or so as it is a relatively thick zone. With that being said, we think that sideways choppiness will continue going forward.
Written by FX Empire