EUR/USD through 1.2000 on Draghi’s presser

The sentiment around the single currency remains positive so far today, with EUR/USD testing daily highs above 1.2000 the figure.

EUR/USD bid on Draghi

Spot remains bid after President Draghi noted that underlying inflation pressures remain subdued, while the ECB now sees the economy expanding 2.2% this year vs. 1.9% previous.

The central bank has also revised lower its projections for inflation measured by the broader HICP.

EUR/USD levels to watch

At the moment, the pair is gaining 1.08% at 1.2048 and a break above 1.2052 (high Sep.7) would aim for 1.2069 (2017 high Aug.29) and finally 1.2167 (50% Fibo of the 2014-2017 drop). On the downside, the immediate support lines up around 1.1924 (10-day sma) seconded by 1.1847 (10-day sma) and then 1.1823 (low Aug.31).