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15 Apr 2015
EUR/USD slightly lower after Draghi, US data
FXStreet (Córdoba) - EUR/USD has continued to waver on both sides of the 1.0600 level and trades slightly lower on the day in the aftermath of the European Central Bank decision and dismal US industrial output data.
EUR/USD bottomed out at 1.0570 during the European session and remained near lows throughout ECB President Draghi’s speech until disappointing US industrial production data hit the greenback and sent EUR/USD to a daily high of 1.0673. However, EUR/USD failed to hold at highs and dropped all the way back to the 1.0590 area, where it trades at time of writing.
The ECB presser barely affected the euro. Draghi said QE is intended to continue until the end of September 2016 and, in any case, until they see a sustained adjustment in the path of inflation and said there is clear evidence the monetary policy measures we put in place have been effective.
EUR/USD levels to watch
In terms of technical levels, EUR/USD could find immediate supports at 1.0570 (daily low) and 1.0520 (Apr 13 low). On the flip side, resistances are seen at 1.0673 (daily high) and 1.0706 (Apr 15 high).
EUR/USD bottomed out at 1.0570 during the European session and remained near lows throughout ECB President Draghi’s speech until disappointing US industrial production data hit the greenback and sent EUR/USD to a daily high of 1.0673. However, EUR/USD failed to hold at highs and dropped all the way back to the 1.0590 area, where it trades at time of writing.
The ECB presser barely affected the euro. Draghi said QE is intended to continue until the end of September 2016 and, in any case, until they see a sustained adjustment in the path of inflation and said there is clear evidence the monetary policy measures we put in place have been effective.
EUR/USD levels to watch
In terms of technical levels, EUR/USD could find immediate supports at 1.0570 (daily low) and 1.0520 (Apr 13 low). On the flip side, resistances are seen at 1.0673 (daily high) and 1.0706 (Apr 15 high).