4 Jul 2013
ECB rate decision next: impact on EUR/USD
FXstreet.com (Barcelona) - The ECB is holding its monetary policy meeting later. Although rumours have been building up regarding the next steps of the central bank, markets consensus seems to agree that both the statement and the subsequent press conference by Mario Draghi would have a dovish tone, weighting on the shared currency.
The EUR/USD is now hovering over 1.3000/10 post-BoE decision, as the sterling plummeted from the area of 1.5250 to the current levels near 1.5080. The levels to watch remain Wednesday’s high at 1.3032 followed by the 100-day moving average at 1.3055, while 1.2923 (yesterday’s low) and 1.2859 (weekly cloud top) await on the opposite direction.
“Steady gains above 1.3030 however, on a more optimistic outlook coming from the Central Bank, may support an upward continuation in the pair towards 1.3090/1.3110 price zone”, suggested Valeria Bednarik, Currency Strategist at FXstreet.com.
The EUR/USD is now hovering over 1.3000/10 post-BoE decision, as the sterling plummeted from the area of 1.5250 to the current levels near 1.5080. The levels to watch remain Wednesday’s high at 1.3032 followed by the 100-day moving average at 1.3055, while 1.2923 (yesterday’s low) and 1.2859 (weekly cloud top) await on the opposite direction.
“Steady gains above 1.3030 however, on a more optimistic outlook coming from the Central Bank, may support an upward continuation in the pair towards 1.3090/1.3110 price zone”, suggested Valeria Bednarik, Currency Strategist at FXstreet.com.