The results of the ECB meeting

As expected, the key interest rates of the ECB in the euro area will remain at the same level. The main negative factor for the single currency is comments on the quantitative easing program (QE). Especially, given the fact that the ECB does not discard the possibility of further extending the asset repurchase program.

As a result, the pair EUR/USD returned under the psychology of 1.1800, which indicates the preservation of a downward trend for this pair. Support levels are located at the levels: 1.1770, 1.1740 and 1.1710-00.

There will also be a press conference of the ECB, which will await explanations for such a monetary policy and further hints about QE. But the main direction of the euro is likely to remain unchanged.

More information about the market news can be found here 

Hanzenko Anton