December 13, OctaFX – The euro currency is trading at the mid-point of its trading range against the US dollar after sellers failed to break below key trendline support. The EURUSD currently has a neutral bias heading into today’s ECB policy meeting, with the pair stuck in range bound mode.
EURUSD Technical Forecast
Overall, a definitive technical breakout from the well-defined triangle pattern is needed before a short-term trend can be established.
- The EURUSD pair is only bearish while trading below the 1.1315 level, key technical support is found at the 1.1267 and 1.1216 levels.
- If the EURUSD pair moves above the 1.1430 level, buyers may test the 1.1500 and 1.1550 resistance levels.
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