EUR/USD unchanged around 1.0980 post-ECB

EUR/USD kept the composure following the ECB’s rate decision today, currently hovering over the comfort zone around 1.0980.

EUR/USD focus on Draghi

The pair remained mostly apathetic after the Governing Council of the European Central Bank left its monetary stance unchanged at today’s meeting.

In fact, the central bank left the interest rate on the main refinancing operations at 0.00%, the interest rate on the marginal lending facility ay 0.25% and the deposit facility at -0.40%.

Later in the session, market participants will shift their attention to the usual press conference by President Mario Draghi. Consensus among investors sees the likeliness of a dovish message by Draghi today, paving the way for extra downside of spot.

EUR/USD levels to watch

The pair is now gaining 0.06% at 1.0981 facing the next hurdle at 1.1002 (7-month resistance line) followed by 1.1029 (high Oct.18) and then 1.1055 (4-month resistance line). On the other hand, a breakdown of 1.0950 (low Jul.27) would target 1.0909 (low Jun.24) en route to 1.0820 (low Mar.10).