ECB’s Lagarde: The conditions for a recovery remain in place

ECBs Lagarde is on the wires saying:

• The conditions for recovery remain in place
• Inflation is a set to return to our 2% medium-term target in the course of this year, with risks on both the upside and the downside
• The ECB is not pre-committed to a particular rate path .
• Frequency of shocks likely to remain high in the future

The EURUSD is trading within a 22-pip range in the morning US session. The high reached 1.0325 in the first hour of trading in the US. the low reached to 1.0303. The current price is trading at 1.0308.

Upside resistance is between 1.03 30 and 1.0343.

This article was written by Greg Michalowski at www.forexlive.com.