The EUR/USD pair trades with mild gains near 1.0885 during the early European session on Monday.
EUR/USD trades on a stronger note around 1.0885 in Monday’s early European session. The pair keeps the bullish vibe above the 100-period EMA, but the RSI indicator holds in bearish territory. The first downside target is seen at 1.0865; the immediate resistance level is located at 1.0900. The European Central Bank left rates unchanged in July and maintained a data-dependent approach.
The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year.
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