The Common currency remains unchanged as Draghi's speech did not give the market anything new to think about. In addition to that, the pair was unmoved from the greenback's side as the market awaits Trump's confirmation on the newly proposed tariffs on China. For today, the focus will be on the U.S Dollar as the market will monitor any announcement from Trump, moreover, housing figures from the U.S are also set to be released today.
Technically speaking, the outlook for the pair remains bullish as prices did not go below 1.16633. In addition to that, the pair has also failed to break below the 13-period moving average signaling bullish momentum. Since all the moving averages are pointing upwards, it seems like the pair has a chance to rise towards the next resistance level at 1.17500.
Support: 1.16161 1.15405
Resistance: 1.16633 1.17500