EUR / USD holding firm around 1.2150 level after ECB decision

• EUR / USD remains firm and well above the 1.2100 level.
• The ECB leaves its key rates unchanged, as widely expected.
• Attention now shifts to Lagarde’s regular press conference.

Common currency bullish momentum remains unchanged Thursday, with EUR / USD hovering around the 1.2150 region following the ECB decision on interest rates.

EUR / USD now turns attention to Lagarde

EUR / USD remains at the 1.2150 zone after the Governing Council of the ECB will leave its monetary status quo unchanged at Thursday’s meeting, coinciding with market expectations.

In fact, the ECB left the interest rate of the main refinancing operations, the interest rate of the marginal credit facility and the deposit facility intact at 0.00%, 0.25% and -0.50%, respectively.

Central bank sees interest rate at current / lower levels until inflation approaches the bank’s target. In addition, the ECB maintains its bond purchase rate at € 20 billion per month and confirms the Pandemic Emergency Assistance Program at € 1.85 billion.

In a few minutes, investors will turn their attention to the regular press conference of the President of the ECB, Christine Lagarde, and the following question and answer session.

EUR / USD levels to watch

At the time of writing, the EUR / USD pair is up 0.33% on the day, trading at 1.2145. A break above 1.2349 (January 6 high) would target 1.2413 (April 17, 2018 high) en route to 1.2476 (March 27, 2018 high). On the other hand, the next support is at 1.2062 (55-day SMA), followed by 1.2053 (January 18 low) and finally 1.1976 (50% Fibonacci retracement of the November-January movement).