EUR/USD subdued around 1.1200, Draghi eyed

By FXStreet The common currency keeps the negative note at the beginning of the week, with EUR/USD gyrating around the 1.1200 handle.

EUR/USD attention to Draghi

The solid recovery of the greenback plus a continuation of the positive performance of European equity markets keep the demand for the single currency subdued for the time being, with spot navigating the 1.1180/1.1200 band ahead of the speech by President Draghi before the European Parliament.

Previously EMU’s trade balance figures for the month of December shrink to a seasonally adjusted €21 billion, down from €22.7 billion.

EUR/USD levels to watch

The pair is now retreating 0.42% at 1.1206 and a breach of 1.1084 (low Feb.8) would target 1.1062 (20-day sma) and finally 1.1025 (200-day sma). On the flip side, the next up barrier lines up at 1.1378 (high Feb.11) ahead of 1.1460 (monthly high Sep.18) and then 1.1496 (monthly high Oct.15).
For more information, read our latest forex news. …read more

Source:: FX Street