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With no heavy news releases for the EUR/USD pair today we are turning to the Bollinger Bands, Full Stochastics, StochRSI and RSI that are there every day for us.

At the conclusion of its March 2nd meeting, Bank of Canada’s policy makers left its key interest rate unchanged at 0.25 percent and pledged to hold its current policy rate constant until the end of the second quarter.

No clear technical direction is on the table. Fortunately both of the heaviest news items for this pair are not favoring the Dollar and except for the StochRSI all of the indicators are at or below their centerlines. This combined with yesterday's sharp decline in this pair, will allow for a easy rise today.

Joseph E. Granville developed his On-Balance Volume indicator (OBV) in 1962 and published his entire OBV theory in his book: ‘How to read the Stock Market’. The OBV is one of the most famous momentum indicators and utilizes the relationship between volume, price and momentum of any stock.

As a tool to raise income to service its debt burden partially, the Greek government brought €5bn worth of bonds to the market. The Greek debt is believed to be in the region of €300bn.

The Japanese Yen slipped in Asian trading as the government of the People’s Republic of China reaffirmed its current loose monetary policy and Asian share prices rose, all of which served to increase investors’ appetite for risk. Adding to the Yen’s decline against the U.S. Dollar was the news that Japan’s central bank is considering additional easing measures to stimulate the Japanese economy.

If the Euro's Minimum Bid Rate stay's the same, the other two powerful news items should bring the EUR/USD easily down

Breakout at resistance level of 1.3646 occurred. While candles remain above resistance, possible bulls recovery can be initiated.

Resistance in the EUR/USD at 1.3673 was broken and a rally up to 1.3735 followed.

No pressure. With the world’s largest economic block looking over their shoulder and the single European currency, of which it is a member, being forced lower, all eyes are on Greece.