Euro bulls looking to push the bids higher in thin early Wednesday action. A likely non-starter from the ECB sees broader markets keeping an eye out for continued Italy headlines. The EUR/USD is testing to the high side in early Wednesday action, pushing north of the 1.15 barrier ahead of the European markets. The Italian budget snafu continues to be a bearish drag on the Euro, and recurring headlines focusing on headwinds from rising global tensions, including cautionary statements from the International Monetary Fund today, are adding to the cautious undertones in broader markets, but EUR bidders are indifferent for the time being, pushing the EUR/USD back off of the week’s low punched in yesterday at 1.1430, and Wednesday’s session will see a thin smattering of Euro-centric data. At 07:00 GMT will be a European Central Bank (ECB) Non-Monetary Policy meeting, and the effects will likely be limited with the central bank focusing on non-fiscal policies, though too much attention by the ECB in the Italian bond field could see some volatility kick higher, followed closely by a speech from the ECB’s Mersch at 08:00 GMT. Wednesday is also slated for a 10-year German bund auction, and risk-off within the Eurozone could rear its head if the Italy-Germany bond spread continues to widen. EUR/USD levels to watch The Euro, despite trying to make a bullish play, still remains in bearish territory in the medium-term, and according to FXStreet’s own Valeria Bednarik: “the intraday recovery fell short of affecting the negative tone of the pair, as, by the end of the US session, it continues trading below its 20 SMA in its 4 hours chart, after failing to surpass the level at the beginning of the day, while technical indicators have recovered from their daily lows but lost upward momentum within negative readings. The immediate resistance continues being the 1.1500 level, but the pair would need to firm up beyond 1.1565 to shrug off the negative tone, at least temporarily.” Support levels: 1.1460 1.1420 1.1475 Resistance levels: 1.1500 1.1530 1.1565 FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US: Slight decline in small business optimism – Nomura FX Street 4 years Euro bulls looking to push the bids higher in thin early Wednesday action. A likely non-starter from the ECB sees broader markets keeping an eye out for continued Italy headlines. The EUR/USD is testing to the high side in early Wednesday action, pushing north of the 1.15 barrier ahead of the European markets. The Italian budget snafu continues to be a bearish drag on the Euro, and recurring headlines focusing on headwinds from rising global tensions, including cautionary statements from the International Monetary Fund today, are adding to the cautious undertones in broader markets, but EUR bidders are indifferent for… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
