Overnight, the ECB remained cautious, stating that while the inflation path is lower than before, the ECB should not lower its guard.
Keeping rates on hold at 4.50%, President Lagarde indicated that the ECB did not discuss rate cut scenarios.
The EURUSD traded higher following the news, with price trading within the 1.10 resistance area.
Technicals
Price trades at 1.10 resistance & 61.8% fib retracement level and if price continues to trade higher, beyond this resistance, the next major resistance level is at 1.1270
Keeping rates on hold at 4.50%, President Lagarde indicated that the ECB did not discuss rate cut scenarios.
The EURUSD traded higher following the news, with price trading within the 1.10 resistance area.
Technicals
Price trades at 1.10 resistance & 61.8% fib retracement level and if price continues to trade higher, beyond this resistance, the next major resistance level is at 1.1270
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