EUR/USD hovering around 1.3520, remains in ranges

FXStreet (Córdoba) - The EUR/USD is moving slightly to the upside early in Asia and recently reached a fresh daily high at 1.3526. But continues to move within the trading range of Tuesday, moving sideways in the short-term with support at 1.3490/95 and resistance at 1.3540.

EUR/USD outlook

The Euro continues to move in a consolidation mode, after falling sharply in the last two days of January. According to Jim Langlands, from FX Charts the daily charts point to a bit lower. “I would remain fairly neutral on the outlook, but today would again use 1.3485/1.3570 as a guide, with the longer term preference still being to sell rallies, looking for an eventual run lower towards the 200 DMA (1.3373)”.

Some investors continue to wait until what the European Central Bank and Mario Draghi could say on Thursday, to see where the EUR/USD could go.