The euro received support from the publication of the ECB protocol

The single currency received significant support on the publication of the ECB, while the protocol itself did not contain changes in the monetary policy of the eurozone. Despite this, the euro appreciably strengthened across the spectrum of the market, thereby repeating yesterday’s pattern of the movement on China’s comments on the purchase of the US bonds. A possible stimulus to the growth of the euro were comments on the possibility of curtailing the quantitative easing program in the future, but the interest rates will remain at the same level.

Thus, the main resistance on the EUR/USD pair remains yesterday’s high at 1.2010-20, from which one should expect correction and the resumption of the downtrend. In turn, the resumption of activity of the American should be expected closer to the American session.

Fig. EUR/USD. The current price is 1.2000.

Hanzenko Anton