EUR/USD has slipped slightly in relatively subdued early European trade, presently down at 1.3270. The market is pretty much on hold ahead of todays ECB policy announcement.
Alot of uncertainty surrounds the outcome of the ECB deliberations, but on balance the market seems to feel the bank will announce a 25bps rate trim and also some non-standard measures (anyone’s guess exactly what)
Quantitative ease, when it’s been announced elsewhere, tends to ellicit a negative reaction, and this is weighing on the EUR/USD pairing at present.
Technical support 1.3255/60, resistance 1.3320/25.
Talk of some buy orders down at 1.3250/60, the depth of which could be tested before not too much longer.