Sumary of EURUSD has a messy technical trading day:
- The central bank said that it “would not hike borrowing costs utilities inflation reach its 2% target well ahead of the end of its projection horizon and durably”.
- Lagarde commented that “We did so to underline our commitment to maintaining a persistently accommodative monetary policy stance to meet are inflation target”.
- A lengthy discussion was held on whether an inflation overshoot would be incidental over intentional.
- The low from Tuesday reached 1.17554. The low yesterday reach 1.17512. The low yesterday also stalled at a trendline connecting the July 14 low with the low from Tuesday’s trade.