EUR/USD Unmotivated Around 1.1300, ECB Eyed
EUR/USD keeps its sidelined pattern around the 1.1300 handle during the European morning on Thursday amidst mixed risk appetite trends.
EUR/USD focus on US calendar
The
pair is looking to consolidate yesterday’s sharp drop from the
boundaries of the 1.1400 handle, down almost a cent to today’s brief
lows in the 1.1280 region. Alternating risk trends keep collaborating
with the directionless theme so far today, while market participants
await the ECB meeting and subsequent press conference by President
M.Draghi.
Consensus amongst traders expects the central bank to
refrain from adding further stimulus, focusing instead on the assessment
of the recently announced measures, all amidst a higher exchange rate
and a persistent low inflation in the region.
EUR/USD levels to watch
The
pair is now up 0.08% at 1.1305 and a break above 1.1387 (high Apr.20)
would target 1.1454 (2016 high Apr.7) en route to 1.1496 (monthly high
Oct.15 2015). On the flip side, the immediate support aligns at 1.1219
(38.2% Fibo of 1.0820-1.1455) followed by 1.1192 (55-day sma) and
finally 1.1142 (low Mar.24).
