The European Central Bank has made the anticipated rate cut, but has not provided clear comments regarding further steps. Meanwhile, markets unexpectedly increased expectations of a 50 basis point rate cut by the US Federal Reserve next week. A potential divergence in Regulators' policy has become an additional catalyst for the growth of the EUR/USD pair.

Technically

The quotes continue to grow from the area of local minimums. At the moment, resistance has been encountered in the range of 1.1070-1.1090 that we previously described. Given the end of the week and expectations related to the decision of the US Federal Reserve, a consolidation of prices at current levels is likely.