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Forex: EUR/USD around 1.3110/15 after ECB

By FXstreet.com,  January 10, 2013, 07:48:00 AM EDT

FXstreet.com (Barcelona) - The euro continues its recovery after the ECB left no room for surprises, leaving the lending benchmark intact at 0.75%, broadly in line with market consensus.
Traders would be cautious however, ahead of the more relevant press conference due at 1330GMT, where a dovish tone is set to prevail, adding pressure to the shared currency.

At the moment, the euro is advancing 0.37% at 1.3113 against the greenback, facing the next hurdle at 1.3140 (high Jan.8) followed by 1.3141 (MA10d) and then 1.3159 (MA21d).
On the downside, a dip below 1.3030 (Lower Bollinger) would aim to 1.3018 (low Jan.7) and then 1.2998 (low Jan.4).




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

Referenced Stocks:



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