The European currency is losing ground ahead of the ECB event later today. Also, the US dollar is a little fragile against the Sterling with GBPUSD climbing to a session high of 1.2500.

The EURGBP pair is unaltered on the day, trading close to 0.8900 and that is the place I’d search for any clear cut eur/gbp strength.

All in all, ECB President Draghi’s actions are set to determine EURUSD’s direction.

EUR/USD levels to watch

If price breaks higher later upon the ECB announcement, keep an eye out for the 100-hour Moving Average at 1.1180 and offers around 1.1200 followed by the 200-hour Moving Average at 1.1209.

Rose Alice

About: Rose Alice

Rose Alice has a long experience as a currency analyst with a deep knowledge of the relationship between macroeconomics and currencies fluctuation.