EURUSD average true range plummets
The euro currency is once again trading around the technically important 1.1360 level against the US dollar, after a brief dip towards the 1.1335 support level. The ATR indicator on the four-hour time frame has plummeted to historically low levels, as the EURUSD pairs trading range narrows ahead of Thursday’s ECB meeting. The ATR indicator is a key measure of volatility and is typically calculated over a 14 day period.
The EURUSD pair remains bearish while trading below the 1.1410 level, key technical support is now found at the 1.1335 and 1.1300 levels.
- If the EURUSD pair moves above the 1.1360 level, buyers may test towards the 1.1380 and 1.1410 resistance levels.