6 Feb 2014
EUR/USD wavers after ECB stays on hold
FXStreet (Córdoba) - Even though the EUR/USD initially moved toward the upper-side of today's range following the ECB decision to keep rates on hold, it quickly turned south sliding to fresh lows sub-1.3500.
The European Central Bank decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.25%, 0.75% and 0.00% respectively.
The EUR/USD was rejected from the 1.3535 zone and fell to a low of 1.3491 afterward, with all eyes on Draghi's presser, where the ECB President will comment on the considerations underlying these decisions at 13:30GMT.
EUR/USD levels to watch
As for technical levels, immediate supports are seen at 1.3476 (Feb 3 low) and 1.3460 (Nov 22 low). On the flip side, resistances could be found at 1.3540 (Feb 6 high), 1.3554 (Feb 5 high) and 1.3577 (10-day SMA).
The European Central Bank decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.25%, 0.75% and 0.00% respectively.
The EUR/USD was rejected from the 1.3535 zone and fell to a low of 1.3491 afterward, with all eyes on Draghi's presser, where the ECB President will comment on the considerations underlying these decisions at 13:30GMT.
EUR/USD levels to watch
As for technical levels, immediate supports are seen at 1.3476 (Feb 3 low) and 1.3460 (Nov 22 low). On the flip side, resistances could be found at 1.3540 (Feb 6 high), 1.3554 (Feb 5 high) and 1.3577 (10-day SMA).