EUR/USD collapses to intra-day lows as Praet says negative rates is an option

FXstreet.com (San Francisco) - The EUR/USD is falling hard right now as the ECB board member Praet said that negative rates or the purchase of assets from backs as a QE plan could be used to spur inflation, according to the WSJ.

In a new version of verbal intervention, the EUR/USD was rejected by the1.3455 level to trade at intra-day lows around 1.3390. Currently the pair is pricing at 1.3400, 0.23% negative on the day.

The short term perspective is slightly bearish according to the FXstreet.com trend index in the 1-hour chart.

Below the 1.3400, the EUR/USD would face supports at 1.3360 and 1.3315. On the upside, resistances are at 1.3470, 1.3525 and 1.3545.