The initial reaction to the headlines is a decline in the EURUSD on the 60 Bln per month and extended to September 2016, but open ended until 2%. The pair initially moved below the 100 hour MA and trend line support on the hourly chart at 1.1582, but is now testing the level on the rebound. Action will remain volatile. The market is taking the decision in stride so far with the pair down but not running away. The low from the week was broken at the 1.1539 level, but back above. A move below that level will give sellers more confidence.
EURUSD hourly chart.
