The EUR/USD has started the day on Thursday moving in a narrow range of operations of just 15 pips located between 1.1810 and 1.1827. The pair’s traders remain cautious pending the announcement from the European Central Bank.
EUR / USD pending from the ECB
After falling to 1.1802 yesterday, its eight-day low, the euro regained some ground against the dollar before ending on Wednesday. Since then, its price has barely changed, waiting for the ECB’s decision.
The European Central Bank will not change its interest rates, but it could give clues about a start to reduce stimuli, since several members of the entity have spoken about it in recent weeks. Any confirmation from Christine Lagarde, president of the ECB, could make the euro move.
In the United States, there are several fronts open in the day. The first will be the weekly unemployment claims data for the week of September 3. Later is expected the speech of Michelle W. Bowman, governor of the Federal Reserve board. Finally, the markets await the announcement of the six-way strategy that Joe Biden will announce this Thursday to combat the expansion of the Delta variant of covid and increase the level of vaccination.
EUR / USD Levels
With the pair trading at the time of writing above 1.1825, gaining 0.08% daily, the first resistance in case of rises appears at 1.1851, September 8 high. Higher up, there is a barrier in 1.1885, ceiling of September 7, before reaching the critical zone 1.1909, maximum of September 3 and of the last two and a half months.
To the downside, initial support awaits in the psychological zone 1.1800. Below is a support at 1.1735, floor of August 27. A break below can accelerate falls toward 1.1664, ground of August 20 and the last ten months.
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