EUR/USD steady at 1.0850 as ECB delivers expected 25bp rate cut
EUR/USD remained stable around 1.0850 following the European Central Bank's widely anticipated 25 basis point rate cut in its June monetary policy decision. The ECB lowered its key interest rates as expected, with markets having fully priced in the move. The euro showed resilience despite the dovish action, suggesting traders had already positioned for this outcome. Focus now shifts to ECB President Lagarde's press conference for guidance on future policy trajectory and economic assessments. The pair found support at the 1.0830 level, with immediate resistance at 1.0870. Any hawkish surprises in forward guidance could propel EUR/USD toward 1.0900, while a more dovish outlook might pressure the pair below 1.0820. Traders should monitor Lagarde's comments on inflation trends and growth forecasts for directional cues.
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