EURUSD was seen holding on to the support area of 1.1140. With the ECB due to meet later today, the currency pair could remain in a consolidating phase for the short term. Depending on the outcome of the ECB meeting, the euro currency could react in either direction.
Will the EURUSD Hold the Support?
The common currency is expected to remain trading near the 1.1140 level in the near term. The bias remains to the downside. The next lower target is seen at 1.1100. However, there is scope for price to pullback modestly higher. The resistance area of 1.1188 will be tested in the near term. A breakout above this level could see further gains in the near term.
