EURUSD gained above 1.1600 despite a rate hike by the ECB. The pair hit an intraday low of 1.15923 and is currently trading around 1.16172.
Resuming its tightening of monetary policy following a halt in July, the European Central Bank (ECB) increased its major interest rates by 25 basis points at its September 10, 2026 meeting—bringing the Deposit Facility Rate to 2.50% and the Main Refinancing Operations Rate to 2.65%. This change in policy is in line with Eurozone headline inflation rising to 3.3% in August as a result of rising world energy costs, far beyond the central bank's 2% goal. Along with revised economic predictions reflecting continuous inflationary pressures and development concerns, markets wait ECB President Christine Lagarde's press conference for hints on staff estimates and future interest rate path.
|
Technicals |
CMP -1.16172 |
Trend |
|
|
4-hour chart |
Value |
|
|
|
55 EMA |
1.16304 |
CMP<value |
Bearish |
|
200- EMA |
1.16230 |
CMP<value |
Bearish |
|
365- EMA |
1.16153 |
CMP>value |
Bullish |
|
800-EMA |
1.15826 |
CMP>value |
Bullish |
Major support- 1.15600/1.1500/1.4700/1.1430. Near-term resistance-11.1660/1.1700.
|
Momentum indicator |
Inference |
Value |
|
CCI(50) |
Bearish |
-253 |
|
ADX |
Neutral |
Strength increased from 13.17 to 17.87 |
It is good to buy on dips around 1.1610-110 with SL around 1.15668 for a TP of 1.1700/1.1765.
