There was a report yesterday from undisclosed ECB sources that the bank is considering tapering its QE program. The report was later denied by the bank's president Draghi, who said that tapering wasn't discussed.

The euro jumped about 80 pips on the report, to the upper part of its four-week range between 1.1125 and 1.1275. The pair is trading in a more broader triangle pattern with the support around 1.11 and the resistance near 1.13.

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