EURUSD Intraday Analysis

EURUSD (1.1912): The euro currency was seen trading subdued with price action trading with Friday’s range. However, the common currency was seen attempting to post higher close in the past few days as it nears the 1.1963 resistance level. On the 4- hour chart, the short term bias remains to the upside with price supported above 1.1882. A reversal at the short-term resistance level at 1.1963 could potentially signal a move to the downside. EURUSD could remain trading within the range into tomorrow’s ECB meeting with further gains or declines based on the market interpretation of the ECB meeting and press conference. Still, the bias remains for a correction to 1.1688. However, this could change should EURUSD manage to close above 1.1963 resistance.

Source:: EURUSD Intraday Analysis

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