6 Feb 2014
Flash: EUR/USD skyrocketing on hawkish Draghi - FXStreet
FXStreet (Barcelona) - Valeria Bednarik, FXStreet Chief Analyst notes that EUR/USD surged past 1.3600 after the ECB president maintained the economic policy unchanged, recognized the current situation, but showed no concerns on deflationary pressures.
Key Quotes
“The hawkish tone, along with disappointing US Trade Balance readings boosted the pair, now consolidating near its daily highs. The technical picture has turned strongly bullish at least in the short term, albeit considering the pair added near 140 pips in the last 2 hours, further gains should remain limited, moreover ahead of tomorrow US employment data.”
“Immediate support stands at 1.3590, ahead of 1.3550 but dips down to this last seem not likely right now, as buyers will likely surge on approaches to the first.”
“Support levels: 1-3590 1.3550 1.3510. Resistance levels: 1.3630 1.3660 1.3710.”
Key Quotes
“The hawkish tone, along with disappointing US Trade Balance readings boosted the pair, now consolidating near its daily highs. The technical picture has turned strongly bullish at least in the short term, albeit considering the pair added near 140 pips in the last 2 hours, further gains should remain limited, moreover ahead of tomorrow US employment data.”
“Immediate support stands at 1.3590, ahead of 1.3550 but dips down to this last seem not likely right now, as buyers will likely surge on approaches to the first.”
“Support levels: 1-3590 1.3550 1.3510. Resistance levels: 1.3630 1.3660 1.3710.”