EUR/USD Flirts with 1.14 on Draghi
The single currency is advancing further vs. the greenback today, taking EUR/USD to the area of daily tops around 1.1400 the figure.
EUR/USD cautious on Draghi
The
pair is trading in a choppy fashion as usual following Draghi’s press
conference. Draghi has once again reiterated that risks in the region
remain tilted to the downside, while asserting that consumer prices
could slip back into negative territory in the next months.
Spot has accelerated its upside after President Draghi made upbeat comments on loan and financial conditions in the euro area.
EUR/USD levels to watch
The
pair is now up 0.75% at 1.1381 and a break above 1.1454 (2016 high
Apr.7) would target 1.1496 (monthly high Oct.15 2015) en route to 1.1713
(monthly high Aug.24 2015). On the flip side, the immediate support
aligns at 1.1219 (38.2% Fibo of 1.0820-1.1455) followed by 1.1192
(55-day sma) and finally 1.1142 (low Mar.24).
