EUR/USD to gain speed on a break above 1.1460

The EUR/USD pair is hovering around 1.1415 after the ECB maintained its monetary policy unchanged as widely anticipated, and bullish according to the 4-hour chart needs to break the 1.1460 resistance level, FXStreet’s Chief Analyst Valeria Bednarik reports. 

Key quotes

“The ECB had a monetary policy meeting, yet, as widely anticipated, policymakers left its current policy unchanged and reiterated they stand ready to act as appropriate.” 

“US data were generally encouraging, as Retail Sales jumped 7.5% in June, beating the market’s expectations. The Philadelphia Fed Manufacturing Survey came in at 24.1 in July, better than the 20 expected. Initial Jobless Claims for the week ended July 10 were a miss, surging to 1.3 million, although Continuing Jobless Claims improved by more than anticipated, printing at 17.338 million in the week ended July 3.”

“The main resistance continues to be the 1.1460 price zone, with a break above it, exposing the yearly high at 1.1496.”