FXstreet.com (Barcelona) -The single currency is orbiting around the 1.3100 figure ahead of the ECB gathering due in minutes.

In the opinion of Dean Popplewell, Chief Currency Strategist at OANDA "What is important is not how the real economy is doing in absolute terms, but relative to what the ECB expects& Draghi's press conference will be important and will likely continue to emphasize risks to growth and his willingness to ease. This occurring could probably leave the EUR vulnerable to further recovery this morning as overall rate differentials will have not changed".

As of writing EURUSD is up 23% at 1.3097 with the next resistance a 1.3140 (high Jan.8) followed by 1.3141 (MA10d) and then 1.3159 (MA21d).
On the downside, a dip below 1.3030 (Lower Bollinger) would aim to 1.3018 (low Jan.7) and then 1.2998 (low Jan.4).

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Forex pairs in this Article » EUR/USD

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