EUR/USD gains as market casts eye to ECB meeting

In U.S. trading on Monday, EUR/USD was trading up 0.23% at 1.3099, up from a session low of 1.3017, and off from a high of 1.3113.


The pair was likely to find support at 1.2999,and resistance at 1.3299.

--> The European Central Bank will hold a monetary policy meeting and announce its decision on interest rates on Thursday, and expectations for a rate cut sent the euro falling against the dollar earlier.

Bottom fishing sent the pair back up as did firming confidence data.

In Europe, the Sentix index of investor confidence came in at -7 for January, its highest level since February 2011, beating out -16.8 in December, which bolstered the euro.