The euro weakened after the ECB kept its accommodative stance unchanged. The single currency is hovering above the demand zone around 1.1710 on the daily chart.
While an RSI divergence has shown a loss in the bearish momentum, yesterday’s whipsaws so far failed to confirm a turnaround.
The break above 1.1800 has prompted sellers to cover some bets. But buyers will need to lift 1.1850 before a solid rebound could materialize.
On the flip-side, a drop below 1.1750 would lead to 1.1710.