EUR/USD TECHNICAL ANALYSIS

After reaching its lowest point since November 2003 on Friday, the EURUSD has gained 83 pips thus far today. It has, since its downward turn in May 2014, continuously dropped without prevail. However experts are waiting for the USD to lose momentum and for the EUR to rebound towards its 1.1730 target resistance following the next ECB policy announcement. If the EURUSD manages to surpass this target it will likely find its second target of 1.1866.

However for the short term the Euro will likely find its support at 1.1450, pushing past the critical 1.1500 mark.