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6 Mar 2014
EUR/USD extends gains to 2-month highs around 1.3830
FXStreet (San Francisco) - The euro continues to extend its post-Draghi rally from 1.3725 and after breaking above the 1.3810 key resistance the EUR/USD has touched highs since December 27th around 1.3830.
ECB president said that "ECB staff projections confirm that low inflation will remain low for a prolonged period of time in the Eurozone and then gradually move up towards the 2% target." Draghi also commented that economic recovery "will proceed at a slow pace."
EUR/USD sentiment
The EUR/USD is currently trading at 1.3810, 0.60% positive on the day. The short term perspective remains slightly bullish according to the FXStreet trend index in the 15-minute chart. MACD, CCI and Momentum are pointing to the north while the Stochastic is neutral.
If the pair holds above the 1.3810, next resistance would be October 25th and today's high at 1.3830 and 1.3870. On the downside, supports are at 1.3790, 1.3750 and 1.3710.
ECB president said that "ECB staff projections confirm that low inflation will remain low for a prolonged period of time in the Eurozone and then gradually move up towards the 2% target." Draghi also commented that economic recovery "will proceed at a slow pace."
EUR/USD sentiment
The EUR/USD is currently trading at 1.3810, 0.60% positive on the day. The short term perspective remains slightly bullish according to the FXStreet trend index in the 15-minute chart. MACD, CCI and Momentum are pointing to the north while the Stochastic is neutral.
If the pair holds above the 1.3810, next resistance would be October 25th and today's high at 1.3830 and 1.3870. On the downside, supports are at 1.3790, 1.3750 and 1.3710.