EURUSD testing minor resistance
The euro is probing above the 1.1300 level against the US dollar, as the MACD indicator on the one-hour time frame attempts to correct higher. The 1.1308 level is former key support turned resistance, with the 1.1337 level offering major intraday resistance above. The EURUSD pair may start to trade in an increasingly narrow range as traders become cautious ahead of Thursday’s key ECB policy meeting.
The EURUSD pair is intraday bearish while trading below the 1.1337 level, key technical support is found at the1.1275 and 1.1230 levels.
If the EURUSD pair trades above the 1.1308 level, buyers may test towards the 1.1337 and 1.1390 levels.