EUR/USD reacts to ECB

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


The European Central Bank has just now hiked its Main Refinancing Rate and has published its Monetary Policy Statement. The base interest rate has been hiked from 2.00% up to 2.50%. Afterwards, at 13:45 GMT, the President of the bank Christine Lagarde revealed that the central bank expects inflation to remain persistent and rates should remain higher. Due to the comments, the EUR/USD spiked even higher.

The surge ended near the 1.0740 level, before a decline started. The follow up decline found support in the 100-hour simple moving average near 1.0600. By the middle of Friday's trading, the rate had recovered to 1.0660.

In regards to the future, the rate is expected to respect the 1.0600 mark and the moving averages, which support it. Higher above, note that various round price levels could act as resistance until the rate reaches 1.0800.

On the other hand, a decline might look for support near 1.0500.
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Fri, 16 Dec 2022 10:06:55 GMT

GBP/USD decline looks for support

In general, the GBP/USD respects round levels as support and resistance, but the direction is set by fundamentals. Namely, the US central bank was more hawkish in its policy than the Bank of England, as two members of the BoE policymaking committee voted to keep rates unchanged instead of the 0.50% rate hike. Due to these reasons the GBP/USD is

Thu, 15 Dec 2022 11:20:41 GMT

Gold is back at 1,775.00

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