The euro remains in a tight trading range against the U.S dollar, as the pair continues to hold below the 1.1600 level during the Asian trading session. The EURUSD is seemingly unable to find a clear directional bias, amidst a lack of macroeconomic data coming from the U.S and Europe. Financial markets are increasingly cautious ahead of the U.S tax reforms plan, which is set to be decided by U.S Senate today, sometime during early U.S trading.
The EURUSD pair remains strongly intraday bearish while trading below the 1.1598 level. Further declines towards the 1.1572 and 1.1553 level seems likely.
Should the EURUSD pair move above the 1.1598 level for a sustained period, further upside towards the 1.1610 and 1.1640 levels.
