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).