Was it oversold? Do you think it will continue to go down after going up the past couple days? Especially as compared to AUD and CHF? How important is ECB meeting on Thursday?
Appears to me to be an "oversold" bounce into lots of overhead resistance - across the board, especially EURUSD, EURCHF, EURCAD and EURJPY - less so EURAUD and EURNZD. All CB's meetings are important lately.
Euro at the moment is very dependent on how the ECB meeting will turn out and their decision on interest rates. It is not certain to predict euro movement for sure.
there is no ECB meeting this Thurs. anyway, the ECB meeting might impact BUND, BTP ... more than the Euro. it will probably go sideway.
I guess Euro should be cheaper as oil prices exert serious pressure on the currencies of energy importing countries also the Fed becomes more hawkish while other central banks are lagging
Today, important news NON FARM PAYROLLS is expected to be released and then it will be clear where this currency pair will move in the medium term.