EUR/USD extends its winning spell for the fourth trading session on Monday but is trading inside Friday’s trading range, exhibiting a sideways performance. The near-term appeal of the shared currency pair is upbeat as it is trading above the 20-day Exponential Moving Average (EMA), which trades around 1.0730.
Broadly, EUR/USD exhibits a sharp volatility contraction due to a Symmetrical Triangle formation on a daily timeframe. The upward-sloping border of the triangle pattern is plotted from October 3 low at 1.0448 and the downward-sloping border is placed from December 28 high around 1.1140.
The 14-period Relative Strength Index (RSI) shifts into the 40.00-60.00 range, suggesting indecisiveness among market participants
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