EUR/USD: robust on the 1.19 handle ahead of this week's ECB

Currently, EUR/USD is trading at 1.1900, up 0.35% on the day, having posted a daily high at 1.1923 and low at 1.1874.

EUR/USD is struggling to get above 1.1920 but is so far holding onto the 1.19 handle in the absence of follow through during holiday markets in the US session. Eyes stay with the ECB this week and investors are fixated on what Draghi may, or may not, say.

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"Thursday's ECB meeting will be the highlight of the week and in particular, what President Draghi has to say about recent EUR strength. Even though media reports suggest that EUR strength is causing concern for some Governing Council members - which may lead to possible delays to tapering - we doubt Draghi has enough verbal firepower to talk the EUR substantially lower," argued analysts at ING Bank.

EUR/USD levels

"The new high has been accompanied by a divergence of the daily RSI. Below the 2 month uptrend lies the 4 month uptrend at 1.1709. Above 1.2070 sits the 50% retracement from the move down from the 2014 high at 1.2168," explained analysts at Commerzbank.