Forex: EUR/CHF eyes 1.2260 after ECB delivered

FXstreet.com (Barcelona) - The pair is now printing session highs in the vicinity of 1.2245/50 after the ECB cut the repo rate by 25 bp to 0.50%, leaving the critical deposits rate intact at 0.0% at the same time. Both measures came in broadly in line with market consensus.

Markets will now focus their attention on the press conference by President Mario Draghi due at 1230GMT.

The pair is now up 0.26% at 1.2256 with the next hurdle at 1.2263 (high May 1) ahead of 1.2312 (high Apr.26) and then 1.2349 (high Apr.25).
On the downside, a violation of 1.2214 (MA21d) would bring 1.2151 (MA200d) and finally 1.2086 (low Jan.10).

May 2, 2013

Forex: EUR/GBP wavers after ECB cuts rates

The euro reacted nervously to the ECB decision to cut the rate on the main refinancing operations by 0.25% to 0.5% in May. Even though the shared currency initially weakened and fell to a 2-day low of 0.8432 versus the pound, EUR/GBP – and other EUR crosses – quickly bounced.

Forex Flash: AUD/USD run at 1.0400 possible after USD decline – Westpac

The RBA decision and a busy data calendar should produce lively trade in AUD. According to Global FX Strategist Sean Callow at Westpac, “We still see the AUD/USD broadly range bound but AUD vulnerable on crosses.”