EUR/USD to trade between 1.1620 and 1.1670 ahead of ECB – OCBC

The market attention shifts towards the European central Bank (ECB) decision. Meanwhile the EUR/USD is supported within range. Economists at OCBC Bank expect the pair to move between 1.1620-1.1670. 

Consolidation phase ahead of ECB meeting

“The tight 1.1620 to 1.1670 range for the EUR/USD may persist into the ECB decision, with firmer support/resistance levels at 1.1580/1.1700.”

“Our bias remains to be selling the pair on rallies.”