FXStreet (Edinburgh) – The shared currency kept the range following the ECB decision on Wednesday, with EUR/USD navigating around 1.1120/30.
EUR/USD now focus on Draghi’s presser
The pair is looking to consolidate around the 1.1120/30 band following the unchanged stance from the ECB at its meeting today. In fact, and in line with the broader consensus, the European Central Bank kept the Refinancing Rate at 0.05%, the Deposit Facility Rate at -0.20% and the Marginal Lending Facility at 0.30%.
Next of significance will be the ADP Employment Change across the pond, with consensus pointing to 200K during May, up from April’s 169K.
EUR/USD levels to watch
The pair is losing 0.30% at 1.1117 and a breakdown of 1.1103 (low Jun.3) would target 1.0915 (low Jun.2) en route to 1.0887 (low Jun.1). On the upside, the immediate up barrier lies at 1.1194 (high Jun.2) ahead of 1.1200 (psychological level) and then 1.1208 (high May 22).
(Market News Provided by FXstreet)