EUR/USD (current price: 1.1227)
The most traded pair had two wild days in a row following the much-awaited ECB meeting that didn’t meet the expectations of traders. The Euro and the Dollar both gained ground on risk-on currencies, but the USD was the stronger of the two, and the pair hit the 1.12 level on Friday, amid the sharp correction on U.S. stock markets. U.S. Wholesale Inventories came in better than expected at 0.0%, as analyst expected a negative number.
Our assessment: The 200-day MA is just below the current rate at 1.1150, while strong resistance looms near the 1.1285 level, following the bearish reversal on the last two days of the week.
