Key Levels for the EUR/USD Today
The EUR/USD is in for a busy session, however, we could very well expect it to have a bit of a slow start. The reason of course, is that
The EUR/USD is in for a busy session, however, we could very well expect it to have a bit of a slow start. The reason of course, is that we will get the ECB Meeting Minutes later in the European session, which will likely cause some tightish ranges early on.
The ECB’s March meeting minutes are unlikely to give all that much away. However, if they do come back with a further dovish tone, we would likely see the Euro push beneath the 2019 lows around the $1.1174 mark and importantly below $1.1200.
Price has really rallied off that level recently, but that has been more the fact that we’ve had quite a bit of weakness in the USD. Particularly in the last 24 hours or so.
| Support | Resistance | |
| S1/R1 | 1.1200 | 1.1250 |
| S2/R2 | 1.1174 | 1.1300 |
| S3/R3 | 1.1150 | 1.1333 |
I’ll have a more detailed look at the ECB Minutes in the Signals Brief out later today prior to the European session open.
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