ECB possible moves to determine EUR/USD – FXStreet

By FXStreet FXStreet (Guatemala) – Valeria Bednarik, chief analyst at FXStreet noted that EUR/USD remained confined to a 50 pips range ever since the day started, and trades a handful of pips below the daily opening by the US close.

Key Quotes:

“The technical picture is neutral-to-bearish in the short term, as in the 1 hour chart, the technical indicators present mild bearish slopes below their mid-lines, whilst the price is below its moving averages that anyway lack clear directional strength.

In the 4 hours chart, the price is hovering around a mild bearish 20 SMA, whilst the technical indicators remain stuck around their mid-lines. The upcoming moves will be determinate by the ECB’s decision, with the main support being at 1.1280, and the main resistance at 1.1400, where selling interest has contained advances ever since the week started.”
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Source:: FX Street