The euro is still largely contained towards the middle of its recent trading range against the US dollar, as traders remain cautious ahead of Thursday’s ECB meeting. Unless we see a strong move in the US dollar index, it is unlikely that EURUSD pair will see significant movement. Overall, the 1.1000 to 1.1090 range is still expect to contain the EURUSD without a near-term trading catalyst.
The EURUSD pair is only bearish while trading below the 1.1000 level, key support is found at the 1.0980 and 1.0940 levels.
The EURUSD pair is bullish while trading above the 1.1090 level, key resistance is found at the 1.1130 and 1.1160 levels.
