EUR/USD found support at 1.0850 while USD loses momentum

The pair EUR/USD lost around 80 pips during the press conference of Draghi, after the decision of the interest rate of the ECB, but was able to find support at 1.0850.

At this time, the EUR/USD is traded at 1.0867, below the 0.34 percent on the day. The price action in the pair was dominated by Mario Draghi, ECB president, gave some remarks during the first half of the american session.

The ECB decision and the press conference provided no surprises real. However, the fact that Draghi stressed that there was discussed about the stance of the monetary policy of the ECB disappointed the buyers of the euro. After reaching the maximum at 1.0930, the pair fell quickly to 1.0850.

However, the bearish momentum could not be sustained as the greenback began to lose strength in the midst of macro data weak of the united States and fell on the yields of Treasury bonds of the united States.

There was no significant reaction when it published the new data as investors focused on the speech of Draghi, but as the markets settled, the index of the us dollar failed to extend its rise above the level 99.

Having fixed a maximum of the session at 99.21, the index operates now at 99.05, a 0.21% more in the day.

Technical levels

A break below 1.0850 (daily/at least yesterday) would allow the pair to extend its fall towards 1.0785 (DMA 200) and 1.0740 (march 29).

To the upside, resistance could be seen at 1.0950 (April 27), 1.10 (psychological level) and 1.1065 (8 November).

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