Overall, EUR/USD is trending downwards. Recently, EUR/USD broke the resistance zone of 1.10000.
The European Central Bank (ECB) will be announcing their monetary policy decision later at 2045 (GMT+8). The central bank is expected to keep monetary policy unchanged while announcing that bond-buying under the Pandemic Emergency Purchase Programme will end this month and bond-buying under the Asset Purchase Programme (APP) will increase. The ECB may also highlight that the recent Russia-Ukraine war has added a high level of uncertainty into the economy. Hence, bond-buying under the APP may be reduced at a slower rate than the previously announced €10billion.
A press conference will also be held at 2130 (GMT+8). During this time, volatility is expected in EUR.
Currently, EUR/USD is bouncing down from the key level of 1.11. Its next support zone is at 1.10000 and the next resistance zone is at 1.12000.
Look for short-term buying opportunities of EUR/USD only if it breaks above the key level of 1.11.
The European Central Bank (ECB) will be announcing their monetary policy decision later at 2045 (GMT+8). The central bank is expected to keep monetary policy unchanged while announcing that bond-buying under the Pandemic Emergency Purchase Programme will end this month and bond-buying under the Asset Purchase Programme (APP) will increase. The ECB may also highlight that the recent Russia-Ukraine war has added a high level of uncertainty into the economy. Hence, bond-buying under the APP may be reduced at a slower rate than the previously announced €10billion.
A press conference will also be held at 2130 (GMT+8). During this time, volatility is expected in EUR.
Currently, EUR/USD is bouncing down from the key level of 1.11. Its next support zone is at 1.10000 and the next resistance zone is at 1.12000.
Look for short-term buying opportunities of EUR/USD only if it breaks above the key level of 1.11.
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