Forex: EUR/USD remains capped below 1.3550 (Córdoba) - After briefly dipping below the 1.3500 level to hit a low of 1.3493, the euro managed to trim losses against the greenback, although the recovery was capped by the 1.3545 area. This way, the EUR/USD was confined to a range and a consolidation phase as investors refrain from taking big positions ahead of the ECB meeting.

At time of writing, EUR/USD is trading around 1.3530, still down 0.4% on the day. On a broader view however, the pair remains in consolidation after rejection from 1.3710 was contained by 1.3460 on Tuesday.

In terms of technical levels, the team locates next supports at 1.3415, the 21DMA line at 1.3377 and then at 1.3349. "On the other hand, resistance levels are seen at 1.3615 which is 62% retracement of the latest sell-off, followed by 1.3711 and then at 1.3836 which is the 62% retracement of the May 2011 to July 2012 sell-off."