The euro has moved back towards the 1.1700 level against the US dollar, ahead of today’s key policy decision from the European Central Bank. A key technical breakout in the EURUSD pair is possible today, as price trades within a symmetrical triangle pattern. Buyers will now attempt to break the 1.1750 level, while sellers will look to break below the 1.1600 support level.
The EURUSD pair is only intraday bullish while trading above the 1.1750 level, key resistance is currently found at the 1.1800 and 1.1851 levels.
If the EURUSD pair trades below the 1.1680 level, sellers will likely target the 1.1650 and 1.1600 support levels.
