- EUR/USD is trading inside the range of the last four days ahead of the speeches at the ECB (European Central Bank) Forum in Sintra, Portugal, where ECB’s President Draghi will share a discussion panel with Federal Reserve Bank’s Chairman Jerome Powell and and Bank of Japan’s H.Kuroda at 13:30 GMT.
- EUR/USD is currently trapped in a tight trading range between 1.550 and 1.1600. A breakout above 1.1600 could lead to a test of 1.1650 while a strong breakout below the 1.1550 can lead to a retest of 1.1510, current 2018 low.
EUR/USD 15-minute chart
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Spot rate: 1.1590
Relative change: 0.02%
High: 1.1593
Low: 1.1536
Trend: Neutral
Resistance 1: 1.1600 figure
Resistance 2: 1.1645 June 19 high
Resistance 3: 1.1730, 23.6% Fibonacci retracement from mid-April-May bear move
Support 1: 1.1550 figure
Support 2: 1.1510, current 2018 low
Support 3: 1.1400 figure
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