8 May 2014
EUR/USD at fresh 2 ½-year highs
FXStreet (Córdoba) - The EUR/USD received the boost it was waiting for and rose to a fresh 2014 high as Draghi’s speech gets underway.
The EUR/USD spiked to its highest level in two and a half years as Draghi reiterates the ECB will maintain a high degree of accommodation and act swiftly with further easing and/or unconventional policy measures if needed. He said inflation pressures remain subdued due to broad-based weakness of economy.
There is nothing new in Draghi’s words but the EUR/USD is threatening the 1.4000 zone. At time of writing, the EUR/USD is trading at 1.3980, 0.51% on the day, having hit a high of 1.3992.
EUR/USD technical levels
In terms of technical levels, next resistances are seen at 1.4000 (psychological level) and not much until 1.4100 (psychological level). On the other hand, supports are seen at 1.3905/00 (may 8 low/psychological level), 1.3873 (10-day SMA) and 1.3848 (21-day SMA).
The EUR/USD spiked to its highest level in two and a half years as Draghi reiterates the ECB will maintain a high degree of accommodation and act swiftly with further easing and/or unconventional policy measures if needed. He said inflation pressures remain subdued due to broad-based weakness of economy.
There is nothing new in Draghi’s words but the EUR/USD is threatening the 1.4000 zone. At time of writing, the EUR/USD is trading at 1.3980, 0.51% on the day, having hit a high of 1.3992.
EUR/USD technical levels
In terms of technical levels, next resistances are seen at 1.4000 (psychological level) and not much until 1.4100 (psychological level). On the other hand, supports are seen at 1.3905/00 (may 8 low/psychological level), 1.3873 (10-day SMA) and 1.3848 (21-day SMA).