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2 Apr 2015
EUR/USD indifferent on ECB
FXStreet (Edinburgh) - The shared currency posted no reaction to the ECB accounts today, with EUR/USD consolidating around 1.0820/30 so far.
EUR/USD looks to US data
The pair kept the daily range following the ECB Accounts for the last monetary policy meeting. The central bank argued that it is not sure the monetary policy will be as supportive in 2017 and that recent positive data should be taken with ‘prudent optimism’ regarding inflation and growth. Furthermore, the Council sees the deposit rate at -0.20% ‘as effective lower bound’.
Next of relevance will be the US Trade Balance figures, Initial Claims and Factory Orders.
EUR/USD levels to watch
As of writing the pair is up 0.65% at 1.0833 and a surpass of 1.0846 (high Mar.31) would aim for 1.0858 (10-d MA) and then 1.0900 (high Mar.30). On the downside, the immediate support lies at 1.0713 (low Mar.31) ahead of 1.0688 (61.8% of 1.0457-1.1062) and finally 1.0650 (low Mar.20).
EUR/USD looks to US data
The pair kept the daily range following the ECB Accounts for the last monetary policy meeting. The central bank argued that it is not sure the monetary policy will be as supportive in 2017 and that recent positive data should be taken with ‘prudent optimism’ regarding inflation and growth. Furthermore, the Council sees the deposit rate at -0.20% ‘as effective lower bound’.
Next of relevance will be the US Trade Balance figures, Initial Claims and Factory Orders.
EUR/USD levels to watch
As of writing the pair is up 0.65% at 1.0833 and a surpass of 1.0846 (high Mar.31) would aim for 1.0858 (10-d MA) and then 1.0900 (high Mar.30). On the downside, the immediate support lies at 1.0713 (low Mar.31) ahead of 1.0688 (61.8% of 1.0457-1.1062) and finally 1.0650 (low Mar.20).