EUR/USD dips below 1.07, European equities open firmer

By FXStreet FXStreet (Mumbai) – The positive tone in the European equities added to the bearish pressure on the EUR, pushing the EUR/USD pair to a session low of 1.0686 levels.

Focus on stocks ahead of Draghi speech

The shared currency could continue to track the movement in the European equity markets, which have begun the day on a positive note. Germany’s DAX strengthened 0.15% in early Europe, along with a 0.16% gain in the FTSE and a 0.10% gain in the CAC.

The traders would watch out if Draghi provides more hints regarding the possibility of more easing in December in his speech later today.

EUR/USD Technical Levels

At 1.0685, the immediate support is located at 1.0667 (Nov 19 low), under which the pair could drop to 1.0616 (Nov 16 low). On the other side, resistance is seen at 1.0713 (4-hour 50-MA) and 1.08 levels.
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Source:: FX Street