- ECB kept the monetary policy unchanged at today’s meeting.
- The pair keeps the bid tone following recent lows near 1.1380.
- Attention is now on President Draghi’s press conference.
The shared currency remains apathetic after the ECB decision today, with EUR/USD around the 1.1400 neighbourhood for the time being.
EUR/USD attention is now on Draghi’s presser
Spot navigates in the lower bound of the weekly range after the ECB’s Governing Council left its monetary conditions unchanged at today’s meeting, in line with prior surveys.
In fact, the ECB left intact the interest rate on the main refinancing operations, the interest rate on the marginal lending facility and the deposit facility at 0.00%, 0.25% and 0 -0.40%, respectively.
Moving forward, markets will now look to the usual press conference by President Mario Draghi as well as the subsequent Q&A session.
EUR/USD levels to watch
At the moment, the pair is up 0.14% at 1.1408 facing the next hurdle at 1.1498 (10-day SMA) seconded by 1.1520 (21-day SMA) and finalyy 1.1550 (high Oct.22). On the flip side, a break below 1.1381 (low Oct.24) would target 1.1319 (200-week SMA) en route to 1.1299 (2018 low Aug.15).
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