The euro currency is starting to consolidate towards the worst levels of the week against the greenback ahead of today’s ECB policy meeting. More QE from the ECB could see the EURUSD pair slumping towards the 1.1170 and possibly the 1.1100 support level. A lack of action from the ECB could cause a rally in the EURUSD pair back towards the 1.1500 or possibly the 1.1600 levels.
The EURUSD pair is only bullish while trading above the 1.1350 level, key resistance is found at the 1.1500 and 1.1600 levels.
The EURUSD pair is bearish while trading below the 1.1350 level, key support is found at the 1.1170 and 1.1100 levels.
