ECB sources:

  • ECB members agreed to go ahead with 50 basis point hike after SNB through lifeline to Credit Suisse
  • ECB policy debate was between 50 basis point hike or leaving rates unchanged. No discussion of 25 bp hike

The EURUSD is trading up at 1.0618 and getting closer to its 200 hour moving average 1.06326. Recall from earlier in the London morning session, the price moved up to that moving average line and found willing sellers. The low price in the day reached down toward its 100 day moving average of 1.05542 but found support buyers near that level.