EUR/USD is flat at 1.0930 before NY holidays

Disappointing fundamental reports from both Europe and US resulted in no change for the EUR/USD currency pair on Wednesday. It kept hovering around the weekly pivot point at 1.0930. Besides this technical level, there is a vital demand area below the spot at 1.09. It is created by 55/20-day SMAs, weekly S1 and monthly R1 support lines, meaning any sell-off will not be an easy task for the Euro. A rally, in turn, can be extended through 1.10 in the mid-term where both the upper Bollinger band and weekly R1 lie.  

The bears continue outperforming bulls in terms of open positions by a margin of 57% to 43%. However, for now only 29% and 36% (35% and 43% yesterday) of the commands are set to acquire the Euro in 50 and 100-pip ranges from the spot, respectively.