EUR/USD jumps due to ECB

Note: This section contains information in English only.
Source: Dukascopy Bank SA


On Thursday, at 12:45 GMT, the European Central Bank published its Main Refinancing Rate and Monetary Policy Statement. In general, the bank kept its rate at 0.00%, but revealed that it would end its quantitative easing policy.

Afterwards, comments made by the head of the central bank Christine Lagarde caused a surge of the currency pair.

The surge of the EUR/USD could be stopped by the resistance of the 1.1400 level or the weekly R2 simple pivot point at 1.1434. On the other hand, a decline of the pair might find support in the 1.1300 level and the 50-hour simple moving average, before aiming at the 1.1250 mark and the 100 and 200-hour simple moving averages.

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