XE Market Analysis: North America – Oct 19, 2015

The euro came under pressure as focus squares on the ECB policy meeting this week, where Draghi is likely to keep the door open to an expansion in the QE program if needed further down the track. The latest Bloomberg survey showed 81% of respondents are expecting the ECB to expand its QE program in January. EUR-USD broke support at 1.1334-50, which encompassed recent daily lows and which now revert as resistance. A low was left at 1.1308.