EUR/USD struggles to hold its ground even as the European Central Bank (ECB) endorses a wait-and-see approach for monetary policy and preserves the zero-interest rate policy (ZIRP), while keeping the asset-purchase program unchanged at EUR 80B/month; need a break/close below 1.0960 (23.6% retracement) to 1.0970 (38.2% retracement) to favor a further decline in the exchange rate, with the next downside target coming in around 1.0910 (38.2% retracement), which coincides with the June low. Even though the ECB expects interest rates ‘to remain at present or lower levels for an extended period of time,’ the Governing ... (full story)