EUR/USD eases within range and could extend the slide towards 1.1800

EUR/USD is trading flat for the day in the 1.1850/60 price zone, losing ground but not yet at risk of falling. The pair is confined to familiar levels as investors struggle for a catalyst, Valeria Bednarik, Chief Analyst at FXStreet, reports.

Key quotes

“Pfizer announced the final data analysis of its COVID-19 vaccine, saying that it is 95% effective in preventing contagions, providing some support to equities, although the enthusiasm among traders is still quite limited.”

“The EU published the final version of October inflation data, confirming the annual CPI at 0.2%. As for the US, the country released October Housing Starts, which increased by 4.9%, and Building Permits that remained flat in the month.”

“The EUR/USD pair could extend its decline on a break below 1.1845, the immediate support, but sustained losses below 1.1800 seem unlikely at the time being.”