The pair remains stuck between falling 20DMA and 1.10 support, ECB policy meeting eyed for fresh signals
Bulls continue to struggle at 1.1049 Fibo barrier (38.2% of 1.1249/1.0925) on Tuesday, with gains being repeatedly capped by falling 20DMA (1.1062).
Near-term action holds in directionless mode for the fourth straight day, with sideways-moving momentum / stochastic / RSI, supporting scenario, but slightly biased higher while above psychological 1.10 support.
Quiet mode may extend as traders await Thursday’s ECB policy meeting and decision of the central bank is expected to be a catalyst for fresh action.
Bullish signals on lift above 20DMA and 1.1087 (Fibo 50% of 1.1249/1.0925 / last Thu spike high), while return and close below 1.10 handle (also 50% of 1.0925/1.1084 upleg) would weaken near-term structure.
Res: 1.1049; 1.1062; 1.1087; 1.1096
Sup: 1.1037; 1.1015; 1.1000; 1.0986