Draghi confirmed that rates will remain on hold at least until September 2019. And it is not a secret that he does not want a stronger EURO.
U.S Q2 GDP will be released today. 4.1% is expected.
The pair is trading at 1.16500 as of writing. The price is below EMA 50 and EMA 100. RSI headed south.
1.17500 is the main resistance and pair will be under bearish pressure as long as it holds below.
1.16500 is the critical support. Upside, 1.16800 and 1.17100 are the key levels to watch. The downside, 1.16100 is the key support. Break below 1.16100 will carry the price 1.15700 and 1.15200.