FX.co ★ EURUSD rejection at upper trading range boundary.

EURUSD is trading around 1.13 again despite yesterday's strength and push above 1.1350. Price got rejected at 1.1369 and is now turning lower again. In our analysis a few days ago we mentioned that during holiday season and as long as price remains inside the trading range, we prefer to be neutral.

EURUSD as shown in the 4 hour chart above got rejected at the upper trading range boundary. Price has support at recent low of 1.1274 and a break below it will increase chances of a push lower towards the lower range boundary close to 1.1230. We remain neutral as long as price remains inside this range.