6 Feb 2014
EUR/USD soars to 1.3600 on Draghi
FXStreet (Córdoba) - The EUR/USD reversed intraday losses and soared to fresh weekly highs as Draghi announces no new action.
ECB President said at a press conference that the bank continues to monitor money markets closely and it is determined to take decisive action if required, but didn't announce any new policy at the moment. Draghi downplayed suspension of SMP sterilization and said inflation expectation remain firmly anchored.
The EUR/USD rallied to a high of 1.3600 although it found resistance at the psychological level and pulled back to 1.3585, where it is recording a 0.4% gain on the day.
EUR/USD levels to watch
In terms of technical levels, next resistances could be found at 1.3600 (psychological level), 1.3630 (55-day SMA) and 1.3665 (Jan 30 high). On the flip side, supports are now seen at 1.3540 (former resistance), 1.3476 (Feb 3 low) and 1.3460 (Nov 22 low).
ECB President said at a press conference that the bank continues to monitor money markets closely and it is determined to take decisive action if required, but didn't announce any new policy at the moment. Draghi downplayed suspension of SMP sterilization and said inflation expectation remain firmly anchored.
The EUR/USD rallied to a high of 1.3600 although it found resistance at the psychological level and pulled back to 1.3585, where it is recording a 0.4% gain on the day.
EUR/USD levels to watch
In terms of technical levels, next resistances could be found at 1.3600 (psychological level), 1.3630 (55-day SMA) and 1.3665 (Jan 30 high). On the flip side, supports are now seen at 1.3540 (former resistance), 1.3476 (Feb 3 low) and 1.3460 (Nov 22 low).