FXstreet.com (Barcelona) - The EUR/USD has entered into a consolidation period after having risen above 1.2800, the pair has been trading between 1.2800 and 1.2870.
On a down move, the Euro could find support at 1.2800, and below there 1.2760, if this support level gives the pair could enter into week-low area 1.2700 to 1.2662. On the upside, 1.2870 appears as the nearest resistance line, 1.2900 the next and, above here 1.2960.
According to the Mataf.net technical Team, the pair will move in range during Wednesday's European session: EUR USD is in a range between 1,2665 and 1,2990. EUR USD moves without trend and swings around exponential moving averages (EMA 50 and 100). Bollinger bands are flat. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. ForexTrend daily (Mataf Trend Indicator) is in a bearish configuration. The price should continue to move in Bollinger bands.