EUR/USD Flirts with 1.14 on Draghi

EUR/USD Flirts with 1.14 on Draghi

21 April 2016, 15:03
Roberto Jacobs
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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).


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