The Euro consolidates in anticipation of Draghi's speech and the UK Parliament's Brexit deal vote. A hawkish tone from Draghi and an indication of a possible rate hike in 2019 or early 2020 will boost the Single currency. Additionally, a positive outcome during the UK Parliament's meeting will improve investor sentiment and thus boost high beta currencies, including the Euro. A positive outcome being a vote for the proposed Brexit deal or a tight loss margin for Yes voters. A tight loss margin will decrease the possibility of the UK accepting to exit the EU without a deal.
The Euro ranges between 1.1449 and 1.1496 as investors await the occurrence of the two events mentioned earlier. Prices are also trading around the 13 and 50 period moving average as a reflection of indecision in the market. The break above the 1.1496 resistance will pave the way for a rise towards 1.1572, while a break below 1.1449 will pave the way for a drop towards 1.1410.
Support: 1.1449 / 1.1410
Resistance: 1.1496 / 1.1572