5 Nov 2015
EUR/USD returns to 1.0860 on Draghi
FXStreet (Edinburgh) - The common currency saw its downside renewed after sellers have stepped in around the 1.09 handle, with EUR/USD now receding to the mid-1.08s.
EUR/USD ignores Draghi’s comments
The pair keeps its daily range after President M.Draghi said the current QE scheme has been effective so far, while he has also reiterated that the programme will be reassessed in December along with the degree of monetary easing.
Spot could not sustain the earlier bull run to the boundaries of 1.09 the figure, sparking the current leg lower amidst a persistent offered tone in EUR and ahead of US Initial Claims and speeches by Lockhart and Fischer.
EUR/USD levels to watch
As of writing the pair is up 0.02% at 1.0862 and a break above 1.0970 (76.4% Fibo of 1.0808-1.1713) would open the door to 1.1059 (downtrend from 1.1496) and then 1.1101 (200-day sma). On the other hand, the next support lines up at 1.0808 (low Jul.20) ahead of 1.0519 (low Apr.13) and finally 1.0456 (2015 low Mar.16).
EUR/USD ignores Draghi’s comments
The pair keeps its daily range after President M.Draghi said the current QE scheme has been effective so far, while he has also reiterated that the programme will be reassessed in December along with the degree of monetary easing.
Spot could not sustain the earlier bull run to the boundaries of 1.09 the figure, sparking the current leg lower amidst a persistent offered tone in EUR and ahead of US Initial Claims and speeches by Lockhart and Fischer.
EUR/USD levels to watch
As of writing the pair is up 0.02% at 1.0862 and a break above 1.0970 (76.4% Fibo of 1.0808-1.1713) would open the door to 1.1059 (downtrend from 1.1496) and then 1.1101 (200-day sma). On the other hand, the next support lines up at 1.0808 (low Jul.20) ahead of 1.0519 (low Apr.13) and finally 1.0456 (2015 low Mar.16).