Back
2 May 2013
Forex: EUR/USD around 1.3200 after ECB
FXstreet.com (Barcelona) - The single currency is resuming the upside towards the key resistance at 1.3200 on Thursday, after the ECB delivered a 25 bp rate cut, taking the refi rate to 0.50%, broadly in line with market expectations. The central bank left the deposits rate unchanged at 0.0% and cut 50 bp the lending rate to 1.0%.
At the moment, the cross is up 0.18% at 1.3204 and a break above 1.3243 (high May 1) would aim for 1.3319 (high Feb.25) en route to 1.3343 (61.8% of Feb-Apr slide).
On the flip side, support levels are located at 1.3120 (hourly high Apr.30) ahead of 1.3065 (MA21d) and finally 1.2988 (low Apr.25).
At the moment, the cross is up 0.18% at 1.3204 and a break above 1.3243 (high May 1) would aim for 1.3319 (high Feb.25) en route to 1.3343 (61.8% of Feb-Apr slide).
On the flip side, support levels are located at 1.3120 (hourly high Apr.30) ahead of 1.3065 (MA21d) and finally 1.2988 (low Apr.25).