EUR USD withdrawing from session highs
9/8/2016 8:41:49 AM
EUR/USD expanded its post-ISM services PMI upside merging phase for the second straight session this Thursday, as traders stay on the back foot ahead of the much-waited for ECB monetary policy decision. Currently, EUR/USD trades +0.08% at 1.1250, withdrawing from session highs got at 1.1260 last hours. The main currency pair is seen trading quite rough up to now this session, though managed to hold gains above 20-DMA now located at 1.1235. The development of the side-trend in the major is mainly driven by improved nervousness ahead of the ECB decision, as markets abstain from placing any directional bet on the EUR in anticipation of fresh hints on the central bank’s asset purchase program. In technical view, the pair finds the immediate persistence 1.1300. A break beyond the last, doors will open for a test of 1.1345. On the other hand, the immediate support is placed at 1.1235 below which 1.1210 could be tested.
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