The EUR/USD pair remains firmer near 1.0880 during the early European session on Tuesday.
EUR/USD trades in positive territory around 1.0880 in Tuesday’s early European session. The negative outlook of the pair prevails below the 100-day EMA and bearish RSI indicator. The immediate resistance level emerges at 1.0931; the first downside target is seen at 1.0800. The uncertainty surrounding the US presidential election outcome weighs on the Greenback and provides some support to the pair.
The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year.
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