EUR/USD unchanged around 1.0650 on ECB

The single currency kept the composure vs. its American peer on Thursday following the ECB event, with EUR/USD hovering around 1.0660/50.

EUR/USD now looks to Draghi

The pair remained within the daily range after the Governing Council of the European Central Bank left its monetary status quo unchanged at today’s meeting.

In fact, the ECB left the interest rate on the main refinancing operations at 0.00%, the interest rate on the marginal lending facility and the deposit facility at 0.25% and -0.40%, respectively, as universally expected.

Later in the session, the usual press conference by President Draghi (1330GMT) should grab all the attention among investors, with the recent pick up in consumer prices a potential subject of the debate.

Attention will also be on the US calendar, where Initial Claims are due along with Building Permits, Housing Starts, the Philly Fed Manufacturing Index and the DoE’s weekly report on crude oil inventories.

EUR/USD levels to watch

The pair is now up 0.32% at 1.0664 and a breakout of 1.0719 (high Jan.17) would open the door to 1.0798 (high Dec.5) and then 1.0873 (high Dec.8). On the flip side, the immediate support aligns at 1.0622 (low Jan.19) followed by 1.0577 (low Jan.16) and finally 1.0563 (near term support line).