EUR/USD steady in a range as summit unfolds

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EUR/USD steady in a range as summit unfolds

FITITOL--> FXstreet.com (Córdoba) - The euro continues to trade inside a 20-pip range as the European summit unfolds, although expectations toward the outcome remain low after a German government source said earlier on the day that the EU summit will produce no detailed decisions but seeks to accomplish important work on EU roadmap.

In the absence of news, the EUR/USD has spent the last hours consolidating inside a tight range just above its 3-week low of 1.2406 scored during the European session. At time of writing, the cross quotes around 1.2435, down 0.2% on the day, lacking momentum either side of the board.

As for technical levels, immediate supports are seen at 1.2406 followed by the 1.2375/85 zone and 1.2360/50. On the other hand, resistances could be found at 1.2475, 1.2500 and 1.2530.