The pair continues to recover after testing the support level in the area of 1.1700 at the beginning of the week, but it does not make it too convincing. Traders are not in a hurry to buy the euro, they are now more concerned about the ECB’s policy.
Today we are waiting for the speech by Benoît Cœuré, Member of the Executive Board of the ECB. In addition, the regulator will publish the minutes of the last meeting. If the expectations are met, the euro can develop an upward correction and even return to a range above 1.18.
Now the pair is consolidating near the opening level, in the middle of the range 1.18-1.17 without a clear dynamics.
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