15 Jun 2015
EUR/USD back above 1.1200, resilient to US data and Draghi
FXStreet (Córdoba) - EUR/USD remains pretty steady within its daily range following the latest string of US economic data and ECB President Draghi testimony before the European Parliament.
EUR/USD recovered from daily lows in the 1.1190 area and climbed back above 1.1200 at the beginning of the American session, cutting most of its intraday losses. Mixed US data had little impact on the greenback while Draghi’s comments failed to inspire euro traders.
Draghi speaks on Eurozone, Greece negotiations
ECB President repeated its recent rhetoric. Draghi said economic data broadly confirms that the economic recovery is proceeding, at a moderate pace while the ECB expects inflation to pick up by the end of the year. Draghi added ECB plans to extend its €60 billion per month until the end of September 2016 or until they see a sustained improvement in path of inflation.
Regarding Greece, Draghi said the ECB is doing all it can to help Greece must now take new steps to break the deadlock to achieve a strong and comprehensive deal soon.
EUR/USD levels to watch
At time of writing, EUR/USD is trading at 1.1245, still down 0.15% on the day, with immediate resistances seen at 1.1260 (Jun 15 high), 1.1295/1.1300 (Jun 12 high/psychological level) and 1.1330 (Jun 11 high). On the flip side, supports could be found at 1.1188 (Jun 15 low) and 1.1150 (Jun 12 low).
EUR/USD recovered from daily lows in the 1.1190 area and climbed back above 1.1200 at the beginning of the American session, cutting most of its intraday losses. Mixed US data had little impact on the greenback while Draghi’s comments failed to inspire euro traders.
Draghi speaks on Eurozone, Greece negotiations
ECB President repeated its recent rhetoric. Draghi said economic data broadly confirms that the economic recovery is proceeding, at a moderate pace while the ECB expects inflation to pick up by the end of the year. Draghi added ECB plans to extend its €60 billion per month until the end of September 2016 or until they see a sustained improvement in path of inflation.
Regarding Greece, Draghi said the ECB is doing all it can to help Greece must now take new steps to break the deadlock to achieve a strong and comprehensive deal soon.
EUR/USD levels to watch
At time of writing, EUR/USD is trading at 1.1245, still down 0.15% on the day, with immediate resistances seen at 1.1260 (Jun 15 high), 1.1295/1.1300 (Jun 12 high/psychological level) and 1.1330 (Jun 11 high). On the flip side, supports could be found at 1.1188 (Jun 15 low) and 1.1150 (Jun 12 low).