EURUSD ECB minutes key

The euro is holding firm against the US dollar in early Thursday trade, ahead of the release of the ECB Meeting Minutes later this morning. Any commentary towards increasing QE purchases will likely be bearish for the EURUSD pair. To the upside, if ECB members are seen to be divided about further QE purchases, it will likely be taken as bullish for the EURUSD pair.

• The EURUSD pair is only bearish while trading below the 1.0950 level, key support is found at the 1.0920 and 1.0880 levels.
• The EURUSD pair is bullish while trading above the 1.0950 level, key resistance is found at the 1.1025 and 1.1070 levels.