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Forex pairs in this Article » EUR/USD (Córdoba) - The EUR/USD has managed to recover some ground and trimmed intraday losses after falling to daily lows sub-1.3500 during the European session.

EUR/USD rangebound ahead of key events

The EUR/USD failed to break above 1.3520 for second day in a row and weakened a tad, slipping to a daily low of 1.3477. However, the pair continues to trade well within familiar ranges, capped by the 1.3520 area on the upside and 1.3440 on the downside, as investors gear up for the ECB policy meeting Thursday and the US nonfarm payrolls Friday. The euro came under pressure last week after low inflation numbers triggered expectations the ECB could loose its policy further. Adding to that case, today the Eurozone PPI index also came in weaker-than-expected, with the YoY figure falling at the fastest in more than 3 ½ years in September.

EUR/USD technical perspective

At time of writing, EUR/USD is trading at the 1.3505 area, little changed since opening. From a technical perspective, Stoyan Mihaylov, analyst at notes that the EUR/USD is still in the consolidation pattern above 1.3442 low. "Intraday outlook here is bullish, for a rise towards 1.3567 minor resistance, en route to 1.3650 major hurdle", the analyst says. "Crucial on the downside is 1.3442 low".
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