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Forex pairs in this Article » EUR/USD (Moscow) - After quite volatile overnight session EUR/USD return to consolidation mode trading at 1.3582 at the moment, and moving up to nearest round number 1.36 with little steps.

What will Draghi say?

Today all eyes will be on the ECB meeting, though hardly anyone expects any changes in monetary policy. Most probably the main event will be Draghi’s press conference during which the president may give the region economic outlook hinting on further plans of the regulator. If the executive council considers the German recovery is enough to keep euro zone going, and prefers to stay in “wait and see” mode, this will give the pair the needed support. The initial target of EUR/USD will be at 1.3628 resistance level, followed by 1.3673 in case of over-optimistic comments.

What are today’s key EUR/USD levels?

Today's central pivot point can be found at 1.3590, with support below at 1.3545 (S1), 1.3507 (S2) and 1.3462 (S3), with resistance above at 1.3628 (R1), 1.3673 (R2), and 1.3711 (R3). Hourly Moving Averages are largely bearish, with the 200SMA at 1.3685 and the daily 20EMA bearish at 1.3668. Hourly RSI is neutral at 43.
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