Intra-day market moving news and views
Update Time: 22 July 2021 05:30GMT.
EUR/USD - 1.1796.. The single currency is in a holding pattern n despite continuing its recent losing streak n falling marginally below Tuesday's 1.1756 low to 1.1753 in European morning, traders were unwilling to sell the euro aggressive ahead of today's key ECB monetary policy meeting announcement n forward guidance, price later rebounded to 1.1804 due to broad-based USD and yen weakness in New York session.
Consolidation is expected with a mild upside bias for more short-covering gain, however, recon res at 1.1850 would cap upside and yield another fall towards 2021 bottom at 1.1705, possibly on ECB's dovish hold.
Bids are noted at 1.1770-60 with some stops below 1.1750 while offers are tipped at 1.1800/05 with stops above 1.1825.
Ahead of ECB announcement at 11:45GMT and then ECB President Lagarde's post-ECB press conference, we have France's business climate n later at 14:00GMT EU's consumer confidence.
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