EURUSD LOWER ON ECB SPECULATION
The euro has moved towards the worst levels of the day against the US dollar as reports surface that the ECB are going to lower European growth forecasts on Thursday. The EURUSD pair retains a neutral bias while trading around the 1.1600 level, with directional traders needing a clear break of the 1.1528 to 1.1650 range. The bearish head and shoulders pattern still remains valid across the lower time frames.
The EURUSD pair is intraday bearish while trading below the 1.1580 level, key support remains at the 1.1528 and 1.1500 levels.
If the EURUSD pair moves above the 1.1600 level, buyers may test towards the 1.1650 and 1.1681 levels.