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EUR/USD volatile post-ECB, around 1.0670

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 3, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - EUR/USD has spiked to the boundaries of 1.07 the figure following the ECB rate decision, although it later deflated to the current 1.0670 area.

    EUR/USD stronger on ECB

    The pair posted daily highs in levels shy of the 1.07 handle after the European Central Bank decreased the interest rate on the Deposit Facility by 10 bp to -0.30%, in line with prior surveys. The central bank left unchanged the interest rate on the Main Refinancing Operations at 0.05% and the interest rates on the Marginal Lending Facility at 0.30%.

    There are no mentions of the QE programme in the ECB statement, leaving even more attention to the upcoming press conference by President M.Draghi.

    EUR/USD levels to watch

    As of writing the pair is up 0.46% at 1.0664 and a break above 1.0805 (monthly lows May and July) would expose 1.0829 (high Nov.12) and then 1.0998 (55-day sma). On flip side, the next support lines up at 1.0519 (low Apr.13) en route to 1.0500 (psychological level) and then 1.0456 (2015 low Mar.16).
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