EUR/USD: support at 1.3680 still intact

FXStreet (Córdoba) - The EUR/USD continues to oscillate around 1.3700 Friday as the pair stabilized around the psychological level after pulling back from its 2014 high weighed by a disappointing PMI run yesterday.

Following a quiet Asian session, the EUR/USD widened its daily range during European hours with 1.3700 containing the downside and 1.3725 capping the upside. However, the pair has lacked momentum to set a fresh direction in the absence of first-tier data. At time of writing, the EUR/USD is trading at 1.3710, just a few pips below its opening price.

EUR/USD technical outlook

"The key support at 1.3680 is still intact and currently it guards the positive outlook on the 4h. frame, for a rise through 1.3770", says Stoyan Mihaylov, analyst at DeltaStock.com. "The intraday bias however is negative below 1.3725 minor resistance".