EURUSD: What happens next if the news is still intriguing?

The EUR/USD pair hovers around 1.0900 ahead of Wall Street’s close, holding on to modest intraday gains. The US Dollar failed to attract speculative interest despite a generally sour mood. Asian stocks edged lower as Chinese real estate sector woes continue, while the local central bank was unable to impress. The People’s Bank of China (PBoC) cut the one-year Loan Primer Rate by 10 basis points (bps) to 3.45% on Monday, as expected, following similar measures last week. The Yuan fell with the news, as speculative interest was waiting for a more aggressive measure to support the local currency.

Support levels: 1.0860 1.0825 1.0790

Resistance levels: 1.0930 1.0960 1.1005

Trade closed: stop reached