EURUSD awaiting Draghi speech
The euro currency is trading in an increasingly narrow range against the US dollar as market participants await a scheduled speech from ECB President Mario Draghi. If buyers can move price above the 1.1330 level, the EURUSD could advance towards the 1.1360 level. If the EURUSD pair falls below the 1.1290 level, a further decline towards the 1.1237 level seems possible.
The EURUSD pair is only bearish while trading below the 1.1290 level, key technical support is found at the 1.1275 and 1.1237 levels.
If the EURUSD pair trades above the 1.1330 level, buyers may test back towards the 1.1360 and 1.1400 resistance levels.