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Forex pairs in this Article » EUR/USD (Edinburgh) - The EUR/USD is dipping to fresh intraday lows in the boundaries of 1.3030, dragged lower by comments by ECB’s President Mario Draghi.

EUR/USD bearishness sharpens

President Draghi argued (hoped?) that the euro area would start to recover its ground lost in the second half of the present year, stressing at the same time that the central bank is ready to implement other instruments should the situation so requires it. In the opinion of Flemming Nielsen, Senior Analyst at Danske Bank, “Following yesterday's broad-based USD rise on strong data and Draghi failing to pre-commit to further easing, we could see EUR/USD take a breather on a day with little in the calendar to drive the cross ahead of key Fed speeches later this week”.

EUR/USD levels to watch

At the moment the pair is down 0.39% at 1.3029 and a violation of 1.2956 (low Jun.3) would target 1.2944 (low May 31) en route to 1.2934 (low May 30). On the upside, resistance levels align at 1.3087 (high Jun.26) followed by 1.3151 (high Jun.25) and then 1.3161 (low Jun.20).
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