Following Wednesday’s breakout of the critical 1.13 the figure, the EURUSD pair is now trading in the 1.1230 area.

Sellers won out in the fight yesterday as they protected a daily close above the 100-day Moving Average at 1.1276. That implies that they remain in control for the pair in the broader picture as the USD keeps on discovering its ground on the week.

Later in the day, the key driver for the EUR will be the ECB meeting and Draghi’s press conference.

The 100-day MA at 1.1276 will be the key dimension in any upside move with offers at that point seen at 1.1300.

In the interim, the 100-hour MA at 1.1219 is a key region to watch in the near-term as a fall beneath that will see the near-term bias turn more neutral in front of light offers around 1.1205 and the 200-hour MA at 1.1190.

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.