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EUR/USD: news from the battlefield

EUR/USD extended the upside on Tuesday, but faced resistance at $1.3767 in the Asian trade – this level was last seen at the end of October. The pair is trying to enter the monthly Ichimoku and to recover into the June-November upside channel.

Break above the $1.3760/70 sell orders would open the way to the next resistance at $1.3790/3800 and $1.3830 (October high, 61.8% Fibo from the $1.4940-1.2042 decline). Near-term support for the pair lies in the $1.3690/3710 area.

ECB President Draghi will deliver a speech today at 12:00 GMT. 

Chart. Daily EUR/USD

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