ECB sources
ECB sources says:
- policymakers keen not to upset market expectations for end of QE this year
- rate hike mid-2019
- decision seen in June or July, with outside chance of delay to September
The EURUSD trades at at 1.2121. The low reached 1.2108.
Looking at the intraday 5 minute chart, the pair trended lower into the low with limited upside corrections. Nevertheless, the high corrective price after the initial plunge on the move below the 1.2153 level, was at 1.21294. Move above that level could see more covering from intraday shorts, with 1.2140 and 1.2153 targets.
The 1.2153 level was a swing low from March 1st and is now a key barometer for the bulls and bears. Stay below is more bearish.
