The euro currency is trading in a narrow price range against the US dollar ahead of today’s key European Central Bank policy decision. The EURUSD pair could fall towards the 1.1320 area if the European Central Bank delivered a bearish policy message. To the upside, a technical breakout above the 1.1450 resistance area could cause the EURUSD pair to test towards the 1.1540 resistance area.
The EURUSD pair is only bullish while trading above the 1.1390 level, key resistance is found at the 1.1450 and 1.1540 levels.
The EURUSD pair is only bearish while trading below the 1.1390 level, key support is found at the 1.1370 and 1.1320.