EUR/USD muted on ECB, near 1.1020

The shared currency keeps the trade above the 1.10 handle vs. the dollar, taking EUR/USD to the 1.1015/20 band post-ECB decision.

EUR/USD still bid after ECB

The pair remained in the positive territory after the Governing Council of the European Central Bank kept its monetary status quo unchanged at today’s meeting, leaving the interest rate on the main refinancing operations at 0.00% and the interest rate on the marginal lending facility and the deposit facility at 0.25% and -0.40%, respectively.

EUR will remain in centre stage however, in light of the upcoming press conference by President M.Draghi, where he is expected to talk down the potential risks for the euro region after the recent ‘Brexit’ vote, amongst other points.

EUR/USD levels to watch

The pair is now gaining 0.08% at 1.1023 and a breakout of 1.1082 (200-day sma) would target 1.1166 (high Jul.14) en route to 1.1201 (55-day sma). On the other hand, the immediate support aligns at 1.0979 (low Jul.20) followed by 1.0913 (post-Brexit low Jun.24) and then 1.0820 (low Mar.10).