ByJin Dao Tai
OCT 28, 2021
Overall, EUR/USD is ranging across. Recently, EUR/USD rejected the resistance zone of 1.16300.
The European Central Bank (ECB) will be announcing its monetary policy decision later at 1945 (GMT+8). It is expected that the central bank will be keeping its monetary policy unchanged. Nonetheless, pay attention to any change in tone that inflation is transitory and any mentioning of plans after the Pandemic Emergency Purchase Programme (PEPP) ends in March 2022.
A press conference will be held at 2030 (GMT+8). During this time, there may be volatility in EUR.
Currently, EUR/USD is testing to break below the key level of 1.16. Its next support zone is at 1.15000 and the next resistance zone is at 1.16300.
If EUR/USD breaks below the key level of 1.16, look for short-term selling opportunities up until the ECB monetary policy decision later at 1945 (GMT+8).
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