FxWirePro: EUR/USD holds 1.1700 level after ECB holds rates as expected, markets eye ECB press conference

• EUR/USD was trading higher yesterday after Unites President Donald Trump and European Union trade deal. US and Europe have reached a deal yesterday to work towards “zero tariff, barriers and subsidies on non-auto industrial goods. Euro jumped till 1.17438 and shown a minor correction. ECB has kept its interest rates unchanged and informed that it is to end bond purchases in Dec. Draghi may expected to repeat what he has said in June meeting nothing is expected.
   
• EUR/USD’s near term support is around 1.1680 and any convincing break below will drag the pair to next level till 1.1650/1.1500.Any break below 1.1500 confirms minor weakness and decline till 1.1400/1.13600 is likely.
   
• On the higher side, near term resistance is around 1.1760 (55- day EMA) and any break above will take the pair to next level till 1.1800/1.18515.

It is good to sell on rallies around 1.1745-50 with SL around 1.1800 for the TP of 1.1500.