The euro currency is starting to slip back towards the 1.1700 against the US dollar, as European equity markets remain extremely weak. Traders are now awaiting the ECB policy decision in a few hours, which is likely to set the tone for the EURUSD pair intraday. The next major directional move in the EURUSD pair is likely to take place once the 1.1690 to 1.1790 price range is broken.
The EURUSD pair is only bearish while trading below the 1.1790 level, key support is found at the 1.1690 and 1.1660 levels.
The EURUSD pair is only bullish while trading above the 1.1790 level, key resistance is found at the 1.1810 and 1.1850 levels.
