09:40, 17 December

EURUSD Daily Analysis

The current key level for the EURUSD is clearly the 1.13 level as the currency pair has been content to trade within a narrow range for the last month or so enjoying support from the current key level of 1.13 and moving up to 1.14.The former level of 1.13 has become quite significant of late, and even though it fell through the 1.13 level several weeks ago, it was quickly pushed higher through strong buying which will provide some confidence that the 1.13 level will provide strong support should the EURUSD attempt to decline again.After dropping through the 1.13 level, the EURUSD did well to rally higher from its lowest levels in 16 months back up towards 1.15 before easing in the week afterwards.Likewise the 1.15 level has become key of late providing stiff resistance and looming above ready to push prices lower.