Filed Under:
Forex pairs in this Article » EUR/USD
FXstreet.com (Córdoba) - The EUR/USD enjoyed a sharp bounce after the ECB rate cut and strong US GDP sent it below 1.3300.

The EUR/USD bottomed out at a 2-month low of 1.3295 but was strongly supported and bounced back above the 100-day SMA that lays around 1.3340. At time of writing, EUR/USD is trading at the 1.3365 area, still 1.1% below its opening price.

Draghi's remarks


At the ECB press conference, President Draghi highlighted that inflation is expected to remain subdued even in the medium term and rates are expected to remain at present or lower levels for an extended period of time.

EUR/USD technical levels


In terms of EUR/USD technical levels, it could find immediate resistances at 1.3380 (hourly high Nov 7) and 1.3400 (psychological level). On the other hand, supports are seen at 1.3295 (daily low), 1.3253 (Sep 13 low) and 1.3215 (200-day SMA).
comments powered by Disqus