ECB Leaves Rates UNCHANGED AT 2%

Discussion in 'Forex' started by nycfxproptrader, Apr 1, 2004.

  1. EUR/USD posted fresh six session highs of 1.2356 after the ECB left interest rates at2.00%.
    The pair has now fallen away towards 1.2320/25, which suggests that some
    investors in this market feel a cut was needed. All eyes and ears will now be on Chief Trichet"s post decision conference at 8:30 A.M
    Technically, daily studies are positive with further tests of key resistance at 1.2355 (61.8% of 1.2540/1.2050 move, and the top of the 1% moving average
    band) likely. A clear break above could pave the way for further gains towards 1.2425 (March 18 high)