The EUR/USD pair trades uneventfully a handful of pips above the 1.1400 figure this Monday, weighed earlier in the day by a the positive tone of European stocks' markets, but unable to leave the 1.1400 region, in where the pair consolidated last week. The lack of macroeconomic releases is an additional reason behind this choppy, limited price action. A couple of FED members will be on the wires during the upcoming American session, whilst the FED will release a statement of economic policies, which can bring some light on the upcoming rate hike, and therefore shake a bit the pair.
Technically, a neutral stance prevails as long as the price remains between 1.1330 and 1.1450. In the 1 hour chart, the price is below its 20 SMA, and the technical indicators heading higher around their mid-lines, but without enough strength to confirm a stronger advance. In the 4 hours chart, the price is stuck around a horizontal 20 SMA, whilst the technical indicators hover around their mid-lines, also lacking directional strength. As commented on previous updates, only a clear break above the 1.1460 level should see the pair accelerating its advance, and rallying up to the 1.1500 level and beyond, during the upcoming sessions.
Support levels: 1.1370 1.1330 1.1280
Resistance levels: 1.1420 1.1460 1.1500