EUR/USD maintains the tight range - FXStreet

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik points out that after being rejected from 1.2970 daily high EUR/USD continues trading in a tight range on Tuesday.

Key quotes

"Trading in a 100 pips range for eighth day in a row, the hourly chart shows price hovering around 20, 100 and 200 SMAs, all together in a 10 pips range which reflects the total lack of directional strength, while indicators remain flat around their midlines."

"In the 4 hours chart price hovers around its 20 SMA while indicators stand in positive territory, also directionless."

"If something, FED meeting on Wednesday can be the trigger market is waiting for to decide whether to resume the trend or begin a recovery."