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EUR/USD Technical AnalysisEuro/dollar dipped towards the 1.0340 level (mentioned last week) before bouncing back and trading under the 1.0460 level.Technical lines from top to bottom:1.0710 is the upper resistance line on the chart after temporarily capping the pair in April 2015. 1.0690 is the post-Trump high. 1.0570 is the bottom of the range seen afterward.Further below, the early 2016 low of 1.0520 and the 2015 low of 1.0460 are seen. 1.0460 seems to carry more weight.Even lower, there are two significant barriers on the way to parity. The 1.0340 level was the low of 2003 before the pair advanced to higher ground. The 101.50 level was a peak seen in 2002, on the first attempt of the pair to break above parity.And then, there is EUR/USD parity.I am neutral on EUR/USDThe week between Christmas and New Year’s Eve is usually quiet. End-of-year portfolio adjustments could trigger some irrational moves, but they could be limited. The trend remains to the downside: monetary policy divergence is starker than beforehand. However, the next move could wait for 2017.
