EUR / USD: Euro Dollar still hesitant after failure under 1.18:

EUR / USD has consolidated around 1.1775 since last night, after the failure around 1.1800 yesterday.

Indeed, the week had begun with slight residual bullish pressures after Friday's post-NFP move, but the rise was not strong enough to break the resistance of 1.1800 / 1.1825.

Hesitation is growing stronger today as we approach the Fed and ECB monetary policy meetings.

We could therefore have a continuation of the evolution between 1.1720 and 1.1825 today pending the decisions of the Fed tomorrow and the ECB on Thursday.

For today, we will follow on the economic calendar the German ZEW and the US PPI, two publications that should not cause enough volatility to break the range of 1.1720 / 1.1825.

Within this range, we will have resistance to 1.1800 and support around 1.1750 that could be tested intraday in case of resumption of volatility.

Beyond the range, on the upside we will have targets to 1.1860 / 1.1880 at first, then 1.1930 and the peak of 1.1960 above. On the downside we could resume the fall to 1.1680, 1.1660 and 1.1620.

The EUR / USD is currently trading at 1.1780 on Forex.