However, EUR/USD lacked momentum to regain the 1.3400 mark despite better-than-expected US consumer confidence data and pulled back as investors remain wary of buying the shared currency.

At time of writing the pair is quoting at the 1.3350 zone, marginally up on the day. "Lack of a certain trend continues in the pair thus remains biased to the downside", said Valeria Bednarik, analyst at FXstreet.com. "Hourly chart shows indicators heading lower yet price above a flat 20 SMA, while the descendant trend line that has been halting attempts to advance, currently lies around 1.3365. Uncertainty is the name of the game".

The analyst locates next supports at 1.3330, 1.3310 and 1.3280, while she sees resistances at 1.3365, 1.3400 and 1.3435.

Fri, Dec 09 2011, 15:55 GMT | FXstreet.com