EUR/USD unfazed post-ECB minutes, around 1.1850

ECB published its minutes from the October meeting.
Spot remains in the upper end of the range near 1.1850.

Pablo Piovano FXStreet

The tone around the shared currency remains firm in the second half of the week, taking EUR/USD to print fresh tops in the mid-1.1800s.

EUR/USD remains bid on ECB

Spot showed no reaction following the release of the ECB minutes from the October meeting. The minutes showed that despite the decision of keeping the bond-buying programme open ended, some members pushed for a clear end date.

In addition, some ECB rate-setters argued for delinking forward guidance from inflation raise.

In the meantime, spot keeps the upside well and sound today, advancing for the third week in a row and now targeting October’s tops in the 1.1880/85 band.

EUR/USD levels to watch

At the moment, the pair is gaining 0.19% at 1.1843 and a breakout of 1.1860 (high Nov.15) would aim for 1.1882 (high Oct.12) and then 1.2033 (high Sep.20). On the flip side, the immediate support lines up at 1.1781 (55-day sma) seconded by 1.1760 (10-day sma) and finally 1.1713 (low Nov.21).

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Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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