21 Jan 2015
EUR/USD steadies below 1.1600, ECB Meeting in focus
FXStreet (Mumbai) - EUR/USD trades slightly higher in the late Asian morning, holding on to its range bound movement as traders remain on the edge ahead of the European Central Bank (ECB) meeting scheduled tomorrow.
The EUR/USD trades now at 1.1564 levels, up 0.10% so far. The pair is seen trading in a tight range hovering around 1.16 mark. The EUR/USD pair is expected to maintain this side trend and remain under pressure before the ECB decision as traders believe ECB chief Mario Draghi will initiate a significant sovereign bond purchase program on Thursday.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1616 (Jan 20 High) levels, above which gains could be extended to 1.1650 (Jan 16 High) levels. On the flip side, support is seen at 1.1539 (Jan 20 Low) levels, below which it could extend losses to 1.15 levels.
The EUR/USD trades now at 1.1564 levels, up 0.10% so far. The pair is seen trading in a tight range hovering around 1.16 mark. The EUR/USD pair is expected to maintain this side trend and remain under pressure before the ECB decision as traders believe ECB chief Mario Draghi will initiate a significant sovereign bond purchase program on Thursday.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.1616 (Jan 20 High) levels, above which gains could be extended to 1.1650 (Jan 16 High) levels. On the flip side, support is seen at 1.1539 (Jan 20 Low) levels, below which it could extend losses to 1.15 levels.