EURUSD Trades Soft As ECB Meeting Approaches

The euro currency continues to trade weaker as price action is posting modest gains on Tuesday.

This comes after the euro settled near new highs above 1.2150 late last week.

For the moment, the currency pair remains flat unless it can break down below the 1.2100 level of support.

This will potentially open the way for the euro to fall to the 1.200 level.

However, support is likely to form near the 1.1900. We expect the euro to trade flat into Thursday’s ECB meeting.

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