{"id":24384,"date":"2023-01-31T10:59:57","date_gmt":"2023-01-31T10:59:57","guid":{"rendered":"https:\/\/fxglobe.wpenginepowered.com\/ecb-main-refinancing-rate\/"},"modified":"2023-07-11T19:55:03","modified_gmt":"2023-07-11T19:55:03","slug":"ecb-main-refinancing-rate","status":"publish","type":"post","link":"https:\/\/www.fxglobe.com\/ms\/ecb-main-refinancing-rate\/","title":{"rendered":"ECB Main Refinancing Rate"},"content":{"rendered":"\n<p>Good morning Traders!<\/p>\n\n\n\n<p>It&#8217;s a big week for Central Banks, with the Fed, the ECB and the BOE among the major<br>Central Banks delivering their monetary policy and interest rates decision. Surprises on<br>the rates decision or the outlook can see strong levels of Support and Resistance taken.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">EURAUD<\/h2>\n\n\n\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" data-id=\"8714\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/EURAUD-D-scaled.jpg\" alt=\"\" class=\"wp-image-8714\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" data-id=\"8715\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/EURAUD-W-scaled.jpg\" alt=\"\" class=\"wp-image-8715\"\/><\/figure>\n<\/figure>\n\n\n\n<p>Last week <a href=\"https:\/\/www.fxglobe.com\/this-weeks-best-performing-charts\/\" data-type=\"post\" data-id=\"24567\">EURAUD<\/a> has once again tested the strong support level of around 1.5250 after<br>the Daily chart pushed to a new Lower Low, it had then, bounced of this level, working<br>out the overextension on the latest move. I\u2019d like to see either a compression of price<br>against this level, making Equal Lows and Lower highs before a potential break of this<br>level, or a strong decisive break and a close below that level, followed by a pullback to<br>test this level from below.<\/p>\n\n\n\n<p>A strong Euro in reaction to the <a href=\"https:\/\/www.centralbank.ie\/statistics\/interest-rates-exchange-rates\/ecb-interest-rates\">ECB decision<\/a> and outlook could see a potential move<br>towards the upper level of around 1.56 while a weaker Euro could see a break of this<br>strong support level around the 1.5250.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">EURNZD<\/h2>\n\n\n\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-2 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" data-id=\"8727\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/EURNZD-D-scaled.jpg\" alt=\"\" class=\"wp-image-8727\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" data-id=\"8725\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/EURNZD-W-scaled.jpg\" alt=\"\" class=\"wp-image-8725\"\/><\/figure>\n<\/figure>\n\n\n\n<p><a href=\"https:\/\/www.fxglobe.com\/eurnzd\/\" data-type=\"post\" data-id=\"29447\">EURNZD<\/a> is also trading around its strong support level of around 1.6660 however in this<br>case, the Monthly chart is still in an uptrend, yet the strong rejection of the breaking<br>attempt of 1.7 could indicate more sellers present. Similar to EURAUD, I\u2019ll be looking for<br>either a compression of price against this support level, or a break and a decisive close<br>below, followed by a pullback to around this level.<\/p>\n\n\n\n<p>A strong Euro in reaction to the ECB decision and outlook could see the market<br>attempting the 1.7 level again, while a weaker Euro could see a break of this strong<br>support level around the 1.6660.<\/p>\n\n\n\n<p>Happy Trading!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning Traders! It&#8217;s a big week for Central Banks, with the Fed, the ECB and the BOE among the majorCentral Banks delivering their monetary policy and interest rates decision. Surprises onthe rates decision or the outlook can see strong levels of Support and Resistance taken. EURAUD Last week EURAUD has once again tested the [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":17550,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_robots_primary_cat":"none","_seopress_titles_title":"Understanding ECB Main Refinancing Rate | %%sitetitle%%","_seopress_titles_desc":"Learn about the significance and impact of the ECB&#039;s Main Refinancing Rate on the financial markets. Stay informed and make informed trading decisions.","_seopress_robots_index":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[],"class_list":["post-24384","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-updates"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/posts\/24384","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/comments?post=24384"}],"version-history":[{"count":0,"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/posts\/24384\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/media\/17550"}],"wp:attachment":[{"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/media?parent=24384"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/categories?post=24384"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/tags?post=24384"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}