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EURUSD : ECB Decision in Focus

(EURUSD : 4 Hour Chart)

EURUSD confirmed its bullish pattern breaking the resistance trend line of the falling wedge but found resistance from the 50 day SMA which again pushed the pair down to the previous position. EUR got some strength after the Friday’s disappointing US data however investor’s focus has now turned to the ECB’s decision to take steps to tackle the weak inflation which will further push down the currency. 

(EURUSD : Daily Chart)

On the daily chart, the pair is currently experiencing support at 1.3591 breaking which will push the pair down to 1.3552 or 1.3482.