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Currency Analyst since 2010

ECB cut rate to 0.05%

FXBAZOOKA.com  - The European Central Bank unexpectedly cut benchmark rate from 0.15% to 0.05%.

EUR/USD tested $1.3036. Next target on the downside is $1.3000. Former support at $1.3110 represents a resistance.

The ECB’s President Mario Draghi will start his press conference at 12:30 GMT. Watch it live at the ECB’s website.

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