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FxWirePro: EUR/USD largely rangebound ahead of European open, dovish ECB expectations weigh

EUR/USD is currently trading at 1.1192, largely rangebound in quiet Asian Session and as Japan holiday continues. The pair idles just above 1.1200, with day's high at 1.1206 and lows at 1.1183 Short-term bias lower, sent…

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EUR/USD is currently trading at 1.1192, largely rangebound in quiet Asian Session and as Japan holiday continues.

  • The pair idles just above 1.1200, with day's high at 1.1206 and lows at 1.1183 
     
  • Short-term bias lower, sentiment has turned bearish due to dovish ECB, expectations of further easing from the central Bank on the rise
     
  • The dollar hovered near its highest level in nearly two weeks on Tuesday, after comments from Fed officials kept rate hike expectations for this year alive
     
  • Dollar index eases, but remians close to Monday's near 2-week high, was trading at 95.822, down 0.1 pct but still near Monday's high of 95.978
     
  • Immediate support for the pair seen at 1.1170 (September 10 low), while resistance on the upside is located at 1.1210 (200 DMA) 
     
  • Euro Zone flash PMI and German IFO due later in week  will provide further direction

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