Overall, EUR/USD is trending upwards.
During the monetary policy meeting yesterday, the European Central Bank (ECB) held its interest rates unchanged. The central bank also kept the size of the Pandemic Emergency Purchase Programme (PEPP) and Asset Purchase Programme (APP) unchanged. However, the ECB decided to slow down the pace of net asset purchases under the PEPP as it deems that favourable financing conditions can still be maintained at such a setting. During the press conference, ECB President Christine Lagarde clarified that the central bank’s decision to slow down the pace of net asset purchase is not a tapering, but merely a recalibration.
President Lagarde will be speaking at the Eurogroup meeting later at 1730 (GMT+8). During this time, there may be volatility in EUR.
EUR/USD’s next support zone is at 1.17600 and the next resistance zone is at 1.19000.
Look for short-term selling opportunities of EUR/USD.
During the monetary policy meeting yesterday, the European Central Bank (ECB) held its interest rates unchanged. The central bank also kept the size of the Pandemic Emergency Purchase Programme (PEPP) and Asset Purchase Programme (APP) unchanged. However, the ECB decided to slow down the pace of net asset purchases under the PEPP as it deems that favourable financing conditions can still be maintained at such a setting. During the press conference, ECB President Christine Lagarde clarified that the central bank’s decision to slow down the pace of net asset purchase is not a tapering, but merely a recalibration.
President Lagarde will be speaking at the Eurogroup meeting later at 1730 (GMT+8). During this time, there may be volatility in EUR.
EUR/USD’s next support zone is at 1.17600 and the next resistance zone is at 1.19000.
Look for short-term selling opportunities of EUR/USD.