Since yesterday morning EURUSD has been offered. It looks like the fx market remembered the upcoming ECB meeting on thursday. As I wrote in the last newsletter there is no reason to be bullish on Lagarde. There is no reason to be bullish on Powell either but at least the FED is poised to start tapering this year and for the second and third quarter 2022 even rate hikes are priced in for the Dollar.
For now we have to deal with the old range 1.1570 / 1.1640 and I recommend to stay away from the currency pair as long we get no new signals. To the upside I am still watching the daily 50 ema (1.1687) for a sustainable break. Below the minor 1.1570 support the big psychological 1.15 lvl get in sight.
Good luck,
Sebbo