The EURUSD is higher after the rate decision. What next?

The EURUSD EUR/USD The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. For example, when the EUR/USD is trading at 1.2, it means 1 euro is equivalent to 1.2 dollars. Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the euro (EUR) is the world’s second most traded currency, be The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. For example, when the EUR/USD is trading at 1.2, it means 1 euro is equivalent to 1.2 dollars. Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the euro (EUR) is the world’s second most traded currency, be Read this Term has moved up after the higher than expected 50 basis point hike by the ECB. They also activate the Transmission Protection Instrument designed to bring back the disparities of rates. More details of the program will be announced at the end of the Lagarde press conference. The market is now looking at 1.25% by the end of the year.

Looking at the EURUSD, the pair is moving back toward the 50% retracement of the move down from the June 27 high that level comes in at 1.02829. Get above that level would tilt the bias more in the buyers favor. Risk is now the swing area between 1.0219 and 1.02344. Stay above keeps the buyers in play and the hope for a test a break of the 50% retracement also still a possibility.