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4 Dec 2014
EUR/USD muted after ECB
FXStreet (Edinburgh) - EUR/USD remains above the 1.2300 handle on Thursday, following the unchanged stance from the ECB.
EUR/USD now looks at Draghi
The pair kept the composure after the European Central Bank left its monetary policy intact in today’s meeting, with the refi rate at 0.05%, the Deposit Facility Rate at -0.20% and the Marginal Lending Facility at 0.30%. Market participants will now closely follow the press conference by President Draghi for cues regarding the next steps of the ECB and the likeliness to adopt some form of QE in the medium term, with focus on sovereign bond purchases.
EUR/USD levels to watch
As of writing the pair is up 0.04% at 1.2315 and a breakout of 1.2390 (high Dec.3) would open the door to 1.2419 (low Dec.1) and then 1.2449 (21-d MA). On the other hand, the immediate support aligns at 1.2288 (low Aug.17 2012) ahead of 1.2256 (low Aug.16 2012) and finally 1.2242 (low Aug.10 2012).
EUR/USD now looks at Draghi
The pair kept the composure after the European Central Bank left its monetary policy intact in today’s meeting, with the refi rate at 0.05%, the Deposit Facility Rate at -0.20% and the Marginal Lending Facility at 0.30%. Market participants will now closely follow the press conference by President Draghi for cues regarding the next steps of the ECB and the likeliness to adopt some form of QE in the medium term, with focus on sovereign bond purchases.
EUR/USD levels to watch
As of writing the pair is up 0.04% at 1.2315 and a breakout of 1.2390 (high Dec.3) would open the door to 1.2419 (low Dec.1) and then 1.2449 (21-d MA). On the other hand, the immediate support aligns at 1.2288 (low Aug.17 2012) ahead of 1.2256 (low Aug.16 2012) and finally 1.2242 (low Aug.10 2012).