The ECB published the December meeting minutes which wore a rather "soft" character. The regulator pointed to the inflation downside risks. Some of the Bank representatives think that the regulator can cut the rate by 20 basis points, while the other part of the voting members is against the rate easing by more than 10 basis points. The pair limited reaction to the published minutes indicates the monetary authorities’ ambiguity who apparently chose a waiting policy.
The first support lies at 1.0925 and then at 1.0800. The first resistance stands at 1.1050, the next one is at 1.1150.
There is a confirmed and a strong buy signal. The price is above the Ichimoku Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement and form a “Golden Cross”. The upward movement will be until the price is above the Cloud.
The MACD indicator is in a positive territory. The price is correcting.
The potential rebound targets are the support levels of 1.1050, 1.1150.