Brocker.Org: EUR/USD drops to lows post-ECB, near 1.0880


EUR/USD eased some pips following the ECB interest rate decision, currently gravitating around  the 1.0880 area.

EUR/USD weaker on steady ECB

The EUR intensified the daily downside after the ECB’s Governing Council left its monetary policy stance 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, all matching initial estimates.

Later in the session, the attention will shift to the always relevant Draghi’s press conference.

In the US docket, Durable Goods Orders, Pending Home Sales, Initial Claims and Goods Trade Balance are expected in the NA session.

EUR/USD levels to watch

At the moment, the pair is losing 0.16% at 1.0887 facing the next hurdle at 1.0950 (2017 high Apr.26) followed by 1.1000 (psychological handle) and then 1.1300 (high Nov.9 2016). On the flip side, a breach of 1.0855 (low Apr.26) would target 1.0850 (low Apr.25) en route to 1.0837 (200-day sma).