Is this the way towards a bigger correction?🔽
Although the minutes of the last ECB meeting published today did not surprise the markets, the EURUSD pair fell shortly after this event. ECB members were unanimous on the continuation of the current monetary policy. Looking at the H4 chart, after breaking below the support at 1.2150, the way towards a larger correction has been opened. If the downward pressure persists, the nearest noteworthy support lies at 1.2060, while in the medium term the key support for buyers is located around 1.20 level.
EURUSD interval H4. Source: xStation5
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