EURUSD traders await ECB
The euro is holding towards the lower end of its recent trading range against the US dollar as market participants await the ECB policy decision later today. Key technical support is holding, which hints that the EURUSD pair may soon start to rally back towards the 1.1170 level. Overall, a sustained loss of the 1.1060 support level should be considered extremely bearish for the pair.
The EURUSD pair is only bullish while trading above the 1.1100 level, key resistance is found at the 1.1145 and 1.1170 levels.
The EURUSD pair is only bearish while trading below the 1.1100 level, key support is found at the 1.1060 and 1.1020 levels.