- Euro remains trapped under resistance line limiting current upside action.
- Subsequently higher bottoms are pricing in a rising wedge.
- Traders await awaiting concrete statements from ECB, who may be considering to begin discussing QE tapering.
Spot rate: 1.1721
Relative change: 0.06%
High: 1.1734
Low: 1.1711
Trend: Sideways
Support 1: 1.1700 (major key level, 50-hour EMA)
Support 2: 1.1652 (Tuesday low)
Support 3: 1.1617 (June 1st low)
Resistance 1: 1.1730 (current immediate resistance)
Resistance 2: 1.1781 (R2 1-Day pivot)
Resistance 3: 1.1830 (R3 1-Day pivot)
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