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Forex pairs in this Article » EUR/USD (Edinburgh) - The single currency remains within session’s range on Thursday, after the ECB left its monetary policy unchanged, broadly in line with market expectations.

EUR/USD now looks to Draghi

The central bank kept the repo rate intact at 0.5%, while market participants are shifting their attention to Draghi’s press conference due later. “We expect that Draghi will adopt a dovish tone at today’s press conference. While dovish central bank policy is technically negative for a currency, the EUR could be reassured by the ECB’s commitment to heading off tensions which could be sparked by higher bond yields”, assessed Jane Foley, Strategist at Rabobank.

EUR/USD tech levels

At the moment the pair is down 0.08% at 1.2998 facing the next support at 1.2923 (low Jul.3) followed by 1.2859 (weekly cloud top) and finally 1.2838 (low May 29). On the flip side, a break above 1.3032 (high Jul.3) would target 1.3055 (MA100d) en route to 1.3078 (high Jul.2).
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