EURUSD NEUTRAL BIAS AHEAD OF ECB MEETING
The euro currency is trading at the mid-point of its trading range against the US dollar after sellers failed to break below key trendline support. The EURUSD currently has a neutral bias heading into today’s ECB policy meeting, with the pair stuck in range bound mode. Overall, a definitive technical breakout from the well-defined triangle pattern is needed before a short-term trend can be established.
The EURUSD pair is only bearish while trading below the 1.1315 level, key technical support is found at the 1.1267 and 1.1216 levels.
If the EURUSD pair moves above the 1.1430 level, buyers may test the 1.1500 and 1.1550 resistance levels.