EUR/USD: waiting for the central banks

EUR/USD slipped to $1.3060 after having tested $1.3120 earlier in the day. Today euro zone released a bunch of negative data, including the below-forecast flash CPI. As can be seen from the daily chart, euro is testing the 2013 resistance to the upside and is trying to enter the daily bearish Ichimoku. On the weekly chart the pair is trying to fix above the descending Cloud. The pair failed to rise above 61.8% Fibonacci.

There are some sell orders concentrated at $1.3120, so the pair may form a short-term top ahead of the ECB meeting on Thursday. The next strong resistance lies at $1.3200 and $1.3225 (50% Fibo). Support lies at $1.3000 and $1.2950. Positive resolution of the Italian polictical stalemate is supporting the euro. 

Chart. Daily EUR/USD

Scroll to top