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5 Jun 2014
EUR/USD in 4-month lows post-ECB
FXStreet (Edinburgh) - The single currency is now rapidly depreciating against the greenback, dragging the EUR/USD to test the 1.3560/55 band, levels last seen in early February.
EUR/USD now eyes Draghi’s presser
The EUR accelerates its decline after the ECB cut the refi rate by 10 bp, taking it to 0.15% (vs. 0.10% exp.). In addition, the central bank took the deposit rates to -0.10% for the first time in history and cut the marginal rate 35 bp to 0.40% (vs. 0.60% exp.) and 0.75% previous. President Draghi’s press conference will follow as long as announcements of further measures.
EUR/USD key levels
As of writing the pair is losing 0.24% at 1.3565 and a break below 1.3552 (low Feb. 7) would open the door to 1.3516 (38.2% of 1.2740-1.3995) and finally 1.3482 (low Feb.6). On the flip side, the initial hurdle aligns at 1.3600 (psychological level) followed by 1.3645 (high Jun.5) and then 1.3649 (200-d MA).
EUR/USD now eyes Draghi’s presser
The EUR accelerates its decline after the ECB cut the refi rate by 10 bp, taking it to 0.15% (vs. 0.10% exp.). In addition, the central bank took the deposit rates to -0.10% for the first time in history and cut the marginal rate 35 bp to 0.40% (vs. 0.60% exp.) and 0.75% previous. President Draghi’s press conference will follow as long as announcements of further measures.
EUR/USD key levels
As of writing the pair is losing 0.24% at 1.3565 and a break below 1.3552 (low Feb. 7) would open the door to 1.3516 (38.2% of 1.2740-1.3995) and finally 1.3482 (low Feb.6). On the flip side, the initial hurdle aligns at 1.3600 (psychological level) followed by 1.3645 (high Jun.5) and then 1.3649 (200-d MA).