EUR under pressure ahead of ECB - FXStreet

FXStreet (Łódź) - Vladimir Mihaylov, FXStreet Independent Analyst points out that ahead of today's ECB interest rate decision EUR remains locked within the range between the support 1.3585 and resistance 1.3650.

Key quotes

"We are bearish as long as the pair is below 1.3630, above 1.3650 further recovery is possible to 1.3750-60, but i think that will be used for opening short positions at a better price."

" The market is waiting for the ECB to act, if we have another rate cut the downside move may reach 1.3350-1.3310. Add to SHORT below 1.3550."