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Forex pairs in this Article » EUR/USD (Barcelona) - The shared currency keeps the lows around 1.3530 on Wednesday, as we get closer to the ECB monetary policy gathering due tomorrow. Recall that expectations are for keeping the status quo in the lending benchmark, although a more dovish tone from President Draghi could add extra pressure to the euro.

Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggests, "EURUSD traded down through its accelerated uptrend and bounced back - this was not enough to convince us that the market is ready to resume its up move& We suspect that this was a false break above 1.3485/1.3564. We have a 3 month support line at 1.3202 BUT key support is the 1.3125 6 month uptrend".

In addition, and with focus on tomorrow's ECB meeting, Chief Analyst Lars Christensen at Danske Bank, adds, "We continue to hold the view that the euro in broad terms will continue to appreciate over the next couple of months, as the ECB monetary policy is clearly out of sync with the policies of the Fed, BoE and BoJ".
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