EURUSD is recovering

The EURUSD recovered sharply and came back above $1.1400 handle. The gains came as the ECB policy meeting minutes showed that members were considering to stop further easing. So far, the euro is reacting positively to any hints of hawkish messages from the ECB. The rally to 1.1400, however, comes with risk. A possibility of a lower high forming here could signal a longer-term decline back to 1.1300 and potentially to 1.1129. This bearish bias could however change should the EURUSD manage to hold at the current levels and push past the previous highs of 1.14450.