- ECB to maintain rate through summer 2019
- EUR/USD broke support level
- World Economic Forum Annual Meetings Day 3
Price Movement
Since yesterday, EUR/USD moved down for around 90 pips before recovering for around 30pips.
Trend
EUR/USD is on a downtrend.
Macro Background
Last night, ECB left interest rate unchanged at 0.00%. ECB President Mario Draghi reaffirms that the ECB will maintain interest rate through summer 2019 and will reassess inflation data before making any possible rate hike.
Important Issue
Day 3 of the World Economic Forum annual meeting. Comments made by highly influential figures may cause market volatility.
Technical
EUR/USD broke the 1.13256 support level and rejected the 1.13 level and is currently testing the resistance level of 1.13256.
Price Levels
Current Price: 1.13254
Next Resistance: 1.13256
Next Support: 1.12294