EURO BULLISH AHEAD OF DRAGHI SPEECH
The euro continues to make bullish higher daily price-highs against the U.S dollar, with price-action so far finding weekly technical resistance from the 1.2378 level. The EURUSD pair currently trades around the 1.2360 region, and retains an intraday bullish bias whilst clearly trading above the 1.2333 level. Euro traders now await European Central Bank President Mario Draghi, who is scheduled to speak during today’s European trading session.
The EURUSD pair retains its bullish bias while trading above the 1.2333 level, key intraday resistance is currently located at the 1.2382,1.2400 and 1.2430 levels.
If price-action on the EURUSD pair falls below the key 1.2333 level for a sustained basis, a decline towards the 1.2300 and 1.2275 levels seem likely.