8 May 2014
EUR/USD reverses gains as Draghi hints at June action
FXStreet (Córdoba) - The EUR/USD took a 180 degree turn and dropped sharply to fresh daily lows as ECB Draghi hinted at action in June.
At the Q&A, Draghi said the Governing Council is “comfortable with acting next time”. That was enough to steal euro’s shine, and sent EUR/USD to below 1.3900 in a matter of minutes. At time of writing, the EUR/USD is trading at 1.3903, having hit a low of 1.3895 so far. Draghi is still answering questions so investors might take a while to assess his words.
On the downside, next supports line up at 1.3873 (10-day SMA) and 1.3848 (21-day SMA).
At the Q&A, Draghi said the Governing Council is “comfortable with acting next time”. That was enough to steal euro’s shine, and sent EUR/USD to below 1.3900 in a matter of minutes. At time of writing, the EUR/USD is trading at 1.3903, having hit a low of 1.3895 so far. Draghi is still answering questions so investors might take a while to assess his words.
On the downside, next supports line up at 1.3873 (10-day SMA) and 1.3848 (21-day SMA).