EUR/USD - The Next Level to Watch is 1.0800 - 01/20/2017 (GMT)

Yesterday, the ECB kept its monetary policy unchanged and during ECB President Mario Draghi’s press conference based on the rate statement, the euro was traded lower against the U.S. dollar, almost challenging the 1.0580 support barrier. Despite that, the EUR/USD pair ended the day positive thanks to the reversal in the greenback, and now is trading higher near the 1.0680 price level.

Donald Trump's inauguration, today, as the 45th President of the United States will be the center focus for the EUR/USD traders. A break above the 1.0720 resistance barrier, will expose the price towards the 1.0800 significant psychological obstacle or slightly lower near the 100-daily SMA. The MACD oscillator is moving higher with strong momentum as it is holding above its trigger line within the positive zone. The RSI indicator is sloping upwards while it is approaching the 70 level.