Markets are quieter this Tuesday, with a mixed opening in European equities and no rallies there to lead the way among currency traders.
Later on in the day, the US will release its latest Trade Balance figures, with the deficit expected to have widened to $47.04B in August. ECB's President, Mario Draghi, will give a speech in Frankfurt after the US close.
View the Live chart of the EUR/USD
During Asian hours, the pair has fell as low as 1.1172, and the 4 hours chart shows that the price is currently hovering around its 20 SMA, while the technical indicators aim higher around their mid-lines, far from confirming further advances. A daily ascendant trend line coming from 1.1104, late September low, stands today around 1.1160, also a strong static support level, which means it will take a clear break below it to confirm a bearish continuation towards the 1.1100/20 region. A rally beyond 1.1245 on the other hand, is required to confirm a stronger advance, back to the 1.1280/1.1300 price zone.
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