A classic risk-off theme dominates Asia, although the EUR/USD pair fails to benefit from increased safe-haven demand and trades muted below 1.13 handle. EUR/USD rejection near 1.1310 Currently, EUR/USD trades almost unchanged at 1.1285, having found strong support ahead of 50-DMA located at 1.1272. The main currency pair trades directionless in a 30-pips slim range, with bulls little affected by the persisting risk-aversion following the oil price collapse on no Doha deal reached last weekend. The EUR/USD pair reverses a spike to 1.1307 highs and now consolidates in the lower bound of today’s trading range as investors step into the ECB week on a cautious note, with the central bank seemingly less worried over the recent rise in the euro against its American counterpart. In the week ahead, besides the crucial ECB monetary policy decision, markets also look forward to the ZEW surveys and the housing data from the US for further momentum on the major. While today’s macro calendar remains fairly light and hence, the focus will remain on FOMC member Dudley’s speech scheduled later in the NY session. EUR/USD Technical Levels In terms of technicals, the pair finds the immediate resistance at 1.1305/07 (Daily R1 & high). A break beyond the last, doors will open for a test of 1.1339/51 (10-DMA/ 1h 200-SMA). On the flip side, the immediate support is placed at 1.1232 (2-week low) below which at 1.1200/1.1187 (psychological levels/ 50-DMA) could be tested. For more information, read our latest forex news.