FxWirePro: EUR/USD consolidating around 1.1532, bias is neutral

• The EUR/USD dipped slightly on Wednesday as the chances of U.S. rate increase seemed to dwindle but investors remained wary of pushing it lower before ECB meetings.
   
• The ECB meets on Thursday, and it is expected to adjust its language as it gets closer to normalising policy. That may include dropping a reference to its readiness to extend or expand its bond-buying programme.
   
• Investors are looking forward to ECB meeting to see if the recent strength of the euro will influence the central bank outlook.
   
• The euro was last trading at $1.1532, after rising as high as $1.1583 on Tuesday, its highest since May 2016.
   
• To the upside, the immediate resistance can be seen at 1.1562, a break above this level would expose the pair to next resistance level at 1.1619.
   
• To the downside, immediate support can be seen at 1.1514, a break below at this level will open the door towards next level at 1.1467.​
  
  Resistance Levels
  
  R1:  1.1562 (38.2% Retracement level)   
  
  R2: 1.1619 (23.6% Retracement level)    
  
  R3: 1.1700 (Psychological levels)​
  
  Support Levels
  
  S1: 1.1514 (50% Retracement level)                        
  
  S2: 1.1467 (61.8% Retracement level)
  
  S3: 1.1424 (July 17th lows)

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