EUR/USD plummets below 1.2460 region after ECB

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EUR/USD plummets below 1.2460 region after ECB

FITITOL--> FXstreet.com (Barcelona) - The EUR fell to 1.2480 soon after the ECB cut the refi rate 25 bps to a historic low at 0.75%, matching market expectations. The central bank also cut the marginal lending rate to 1.50% from 1.75% and the deposits rate by 25 bps to 0.0%.

With this move lower, the ECB has joined the BoE and the PBoC in easing further the monetary policy.

EUR/USD is now printing fresh lows at 1.2459 or losing 0.55% with the next support at 1.2418 (Lower Bollinger) then 1.2407 (low Jun.28) and 1.2375 (low Jun.4).
On the upside, a break above 1.2560 (MA21d) would expose 1.2608 (high Jul.4) and then 1.2627 (high Jul.3).