The euro currency is poised for a major directional move against the US dollar, ahead of today’s key policy meeting from the European Central Bank. The EURUSD pair could rally towards the 1.1100 resistance level if the 1.0990 level is broken today. To the downside, a breakout below the 1.0900 level exposes further losses in the EURUSD pair towards the 1.0840 and 1.0770 level.
The EURUSD pair is only bullish while trading above the 1.0900 level, key resistance is found at the 1.0990 and 1.1100 levels.
The EURUSD pair is only bearish while trading below the 1.0900 level, key support is found at the 1.0840 and 1.0770 levels.