23 December 2013, 18:01  EUR/USD extends its consolidative pattern

The EUR/USD extends its consolidative pattern Monday amid thin markets during the last full trading day before the Christmas Holiday. The EUR/USD edged higher and touched a high of 1.3694 during the Asian session but the pair failed to break above the 1.3700 mark as momentum was weak and it was confined to a slim range. The EUR/USD is currently trading at the 1.3675 zone, virtually unchanged on the day, having climbed off a 2-week low of 1.3624 on Friday. As for technical levels, the EUR/USD could find immediate supports at 1.3665 (daily low/21-day SMA), 1.3650 (Dec 19 low) and 1.3624 (Dec 20 low). On the upside, resistances could be faced at 1.3694 (daily high), 1.3708 (Dec 20 high) and 1.3725 (10-day SMA).

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