FXstreet.com (Barcelona) - The Euro has retreated to 1.5115 in the last hour from 1-week high at 1.5132 against the Dollar. Currently the pair is trading around 1.5115/25, 0.50% above today's opening price action at 1.5040. EUR/USD is focused on today's ECB rate decision.
Once abocve 1.5115/20, next resistance level lies at 1.5145 1.5145 (Nov25/26 high), and above there, 1.5180 and 1.5200/10. On the downside, initial support level comes at 1.5100, and below here, 1.5065 and 1.5030 (Dec 2 low).
According to the Swiss e Trade Strategy Team, ECB's press release due at 13:30 GMT, after the release of the Banks monetary policy decision will determine Euro direction: We will wait for the news from the ECB at 13:45 CET today before taking a position. For now, with the current market at 1.5125, it looks like the 1.5140 resistance will be taken out, but we see a consolidation / correction setting in later today.