EUR/USD through 1.1300 on steady ECB

The common currency has accelerated its daily gains vs. the dollar in the wake of the ECB decision, with EUR/USD navigating the upper end of the range around 1.1310/20.

EUR/USD muted on steady ECB, Draghi now eyed

Spot kept the composure after the Governing Council of the European Central Bank left its monetary status quo unchanged at today’s meeting, leaving the interest rate on the main refinancing operations at 0.00% and the interest rate on the marginal lending facility and the deposit facility at 0.25% and -0.40%, respectively.

More from the Council showed the central bank expects the QE programme to run until March 2017 or beyond if needed.

The ECB decision was already anticipated by market participants, now leaving all the attention to the press conference by President M.Draghi.

EUR/USD levels to watch

The pair is now advancing 0.55% at 1.1300 and a break above 1.1316 (resistance line off 2016 high) would aim for 1.1367 (high Aug.18) and then 1.1434 (high Jun.24). On the other hand, the immediate support aligns at 1.1212 (100-day sma) ahead of 1.1192 (2014-2016 support line) and finally 1.1138 (200-day sma).