Euro Bulls On The Sidelines As ECB Meeting Looms

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The euro currency is posting losses for five consecutive days. The declines were offset after comments from ECB officials last week expressing concerns on the euro exchange rate.

Price action was down on Monday, following the USD which has strengthened quite a bit over the past few sessions.

For the moment, if the current declines continue, EURUSD will be falling to the 1.1715 level of support.

This would mark a four week low and potentially put EURUSD back to testing the August lows.

To the upside, price will need to clear the 1.1900 handle in order to confirm further upside.

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