As expected. EUR/USD slips a bit lower, extending its drops and heading to 1.1485. Support awaits at 1.1145 and 1.13. Resistance is at 1.1580.
The main lending rate was left at 0% and the deposit rate at -0.40%. The QE program is at 60 billion euros a month and the big question remains about its future beyond the current end-date at the end of the year.
Any kind of tapering or reduction will help the euro. Interest rates will likely rise only in 2019 or 2020.
The press conference commences at 12:30 GMT. Stay tuned.
Here is the chart showing the recent drag:
from Forex Crunch http://feedproxy.google.com/~r/ForexCrunch/~3/1ZNf9w7iZqA/
from Online Forex Trading Resource
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