A break through notable support Wednesday at 157.00 and also probing below the 13-day EMA for the first time since early December.
This sees a shift to a neutral short-term tone, not surprisingly poised into the ECB announcement to make a more significant short-term statement, in either direction.
Range Parameters: We see the range defined by 156.10 and 157.76.
Range Breakout Challenge
- Upside: Above 157.76 aims higher for 157.97 and 158.27.
- Downside: Below 156.10 sees risk lower for 155.56 and 155.24.
For Today: Poised, go with a break
- Above 157.26 targets 157.76, maybe 157.97.
- Below 156.30 aims through 156.10 for 155.56.
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