Technical Analysis EUR/USD for November 25, 2015

The EUR/USD was nearly unchanged but experienced headwinds following a softer than expected consumer confidence report released during the U.S. session.  The stronger than expected German IFO survey gave the currency pair a boost, but it was unable to hold its ground.  Resistance on the exchange rate is seen near the 10-day moving average at 1.0699, while support is seen near Monday’s lows at 1.0630.  Momentum is non-existent as the MACD printing near the zero index level with a flat trajectory.  The RSI is also flat while printing a reading of 32, which is just above the oversold trigger level of 30, while generally implies and impending correction.

U.S. Consumer Confidence fell to 90.4 from 99.1 in November while expectations were for a 97.6 figure.Expectations fell to 78.6 from 88.7 in October.Current conditions fell to 104.8 from 102.3 revised from 112.1 for October.