The euro currency is once again trading around the technically important 1.1360 level against the US dollar, after a brief dip towards the 1.1335 support level. The ATR indicator on the four-hour time frame has plummeted to historically low levels, as the EURUSD pairs trading range narrows ahead of Thursday’s ECB meeting. The ATR indicator is a key measure of volatility and is typically calculated over a 14 day period.
The EURUSD pair remains bearish while trading below the 1.1410 level, key technical support is now found at the 1.1335 and 1.1300 levels.
If the EURUSD pair moves above the 1.1360 level, buyers may test towards the 1.1380 and 1.1410 resistance levels.
