EURUSD selling momentum easing

The euro currency is trading in an increasingly narrow trading range against the US dollar on Tuesday, as the recent bearish selling momentum starts to ease. Further losses in the EURUSD remain possible, although sellers are struggling to hold price below the 1.1360 level. Traders are also starting to become cautious ahead of Thursday’s key European Central Bank meeting.

The EURUSD pair is intraday bearish while trading below the 1.1410 level, key technical support is found at the 1.1360 and 1.1300 levels.

If the EURUSD pair moves above the 1.1410 level, buyers may test towards the 1.1460 and 1.1490 resistance levels.