EUR/USD testing 1.3600

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Edinburgh) - A dovish press conference by ECB’s Draghi is hurting the single currency on Thursday, sending the EUR/USD to test the key support at 1.3600.



EUR/USD supported at 1.3600… for now



The EUR’s sell-off seems to have found bids near the 1.3600 handle so far, against the backdrop of dovish appreciations by President Draghi in his press conference. Mario Draghi stressed that the TLTRO will benefit the economic growth and inflation expectations in the region, signalling at the same time that ABS could repair the beleaguered lending channel. In another appreciation, he said that the central bank will publish its minutes starting January 2015.



EUR/USD relevant levels



The pair is now retreating 0.39% at 1.3605 with the next support at 1.3576 (low Jun.26) followed by 1.3574 (low Jun.23) and finally 1.3565 (low Jun.20). On the upside, a breakout of 1.3664 (high Jul.3) would open the door to 1.3676 (200-d MA) and then 1.3683 (high Jul.2).



Related Forex Analysis
  1. Forex News

    EUR/USD Risks Fresh Monthly Lows on Dismal Euro-Zone CPI

  2. Forex News

    OPEC: We await the US to get back to their desks - Rabobank

  3. Forex News

    Video: Euro Faces Another Round of Data, Oil Collapses

  4. Forex News

    US Session: Holidays or no holidays, greenback prevails and Oil dumps

  5. Forex News

    EUR/USD taken lower on demand for the greenback - FXStreet

Trading Center