The last week US data offered some support to the dollar yesterday. Nevertheless, the euro found strength to start a correction. Traders are waiting for the ECB's meeting on Thursday. Markets would like to know how long the European rates will remain negative.
The main scenario is a growth to the 1.1120 resistance.
An alternative scenario is a bounce off 1.1100 downwards.
A clear break above 1.1100 might force the pair to resume its upward trajectory towards 1.1120.
If the euro does a bearish rebound off 1.1100, the rate may ease to 1.1080.