EURUSD (1.1365): The EURUSD currency pair was trading somewhat subdued after briefly attempting to rally during the day. Price action was seen once again testing the falling trend line, and the 4-hour session posted a reversal. We expect the euro to remain weak into the ECB’s meeting but expect a possible rebound off the support level near 1.1315 – 1.1300 region. Failure to hold the declines could potentially risk pushing the EURUSD lower to test the previous lows at 1.1200 level. To the upside, the resistance at 1.14350 needs to be cleared for any signs of a breakout to the upside.
