22 Jan 2015
EUR/USD sidelined around 1.1580
FXStreet (Edinburgh) - The shared currency is marginally retreating vs. the US dollar on ECB-day, with EUR/USD flat-lining around 1.1580.
EUR/USD calm now, eyes on ECB
Markets seem to have left behind yesterday’s rumours regarding ECB’s sovereign bond purchases of around €50 billion/month. Instead, spot is looking to stabilize in the 1.1580 area after climbing as high as 1.1680 on Wednesday. Ahead in the day, probable the most important ECB meeting in years is due, and according to a poll by Reuters, markets are expecting the central bank to deliver a quantitative easing programme worth around €600 billion.
EUR/USD levels to consider
At the moment the pair is losing 0.06% at 1.1581 facing the next support at 1.1540 (low Jan.20) ahead of 1.1530 (low Jan.19) and finally 1.1460 (2015 low Jan.16). On the flip side, a breakout of 1.1629 (high Jan.22) would aim for 1.1680 (high Jan.21) and then 1.1792 (high Jan.15).
EUR/USD calm now, eyes on ECB
Markets seem to have left behind yesterday’s rumours regarding ECB’s sovereign bond purchases of around €50 billion/month. Instead, spot is looking to stabilize in the 1.1580 area after climbing as high as 1.1680 on Wednesday. Ahead in the day, probable the most important ECB meeting in years is due, and according to a poll by Reuters, markets are expecting the central bank to deliver a quantitative easing programme worth around €600 billion.
EUR/USD levels to consider
At the moment the pair is losing 0.06% at 1.1581 facing the next support at 1.1540 (low Jan.20) ahead of 1.1530 (low Jan.19) and finally 1.1460 (2015 low Jan.16). On the flip side, a breakout of 1.1629 (high Jan.22) would aim for 1.1680 (high Jan.21) and then 1.1792 (high Jan.15).