5 Mar 2015
EUR/USD bounces off 1.0990
FXStreet (Edinburgh) - After bottoming out in fresh lows around 1.0990, EUR/USD has managed to pick up pace and is now attempting to regain the 1.1030 area and beyond.
EUR/USD weaker on innocuous ECB
The pair’s reaction to President Draghi’s press conference today was mixed, quickly jumping to levels above the 1.1100 handle just to drop to fresh lows in the 1.0990 neighbourhood soon afterwards.
The ECB confirmed the bond-buying programme to start on Monday 9th March and stressed that both Greece and Cyprus are not eligible at this first stage of the scheme. The Council also revised up its forecasts for economic growth in the region: 1.5% in 2015, 1.9% in 2016 and 2.1% in 2017.
EUR/USD key levels
As of writing the pair is retreating 0.44% at 1.1025 facing the next support at 1.0987 (low Mar.5) ahead of 1.0914 (low Sep.5 2003) and then 1.0809 (low Sep.4 2003). On the flip side, a breakout of 1.1218 (high Mar.3) would expose 1.1245 (high Feb.27) and then 1.1271 (10-d MA).
EUR/USD weaker on innocuous ECB
The pair’s reaction to President Draghi’s press conference today was mixed, quickly jumping to levels above the 1.1100 handle just to drop to fresh lows in the 1.0990 neighbourhood soon afterwards.
The ECB confirmed the bond-buying programme to start on Monday 9th March and stressed that both Greece and Cyprus are not eligible at this first stage of the scheme. The Council also revised up its forecasts for economic growth in the region: 1.5% in 2015, 1.9% in 2016 and 2.1% in 2017.
EUR/USD key levels
As of writing the pair is retreating 0.44% at 1.1025 facing the next support at 1.0987 (low Mar.5) ahead of 1.0914 (low Sep.5 2003) and then 1.0809 (low Sep.4 2003). On the flip side, a breakout of 1.1218 (high Mar.3) would expose 1.1245 (high Feb.27) and then 1.1271 (10-d MA).