EURUSD Support At 1.4460 – Look to Buy

EURUSD has ranged for the past few days, developing support near 1.4460. Today’s low reached 1.4445, but quickly retraced back up. The ECB statement and issues with Greece may be leading to the EUR weakness, but it’s unlikely to sustain the move.

With a USD bearish bias, look to buy a bounce off of this EURUSD support and target the mid (1.4515) or highs (1.4550) of the range. Place a stop under the support, near 1.4430.

Alternatively, if EURUSD happens to break this support and the Jan 12 low of 1.4452 in a sustained fashion, look for EURUSD to continue a decline. Cautiously, look to sell near 1.4430 in the event of a break, targeting 1.4385.

EURUSD is currently trading at 1.4476.