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EUR/USD a test of 1.3000 on sight?

FXStreet (Edinburgh) - The single currency continues to fall apart on Thursday, pushing the EUR/USD closer to the psychological support at 1.3000 the figure.

EUR/USD focus on Draghi

The next significant event will be the press conference by ECB’s Mario Draghi following the unexpected decision in today’s meeting, relegating to some extent the US docket, with Initial Claims, Trade Balance and the ISM Non manufacturing. Further dovish appreciations by Draghi today could send spot through the 1.3000 handle, or back to levels seen more than a year ago.

EUR/USD key levels

At the moment the pair is retreating 0.90% at 1.3031 with the next support at 1.3000 (psychological handle) ahead of 1.2992 (low Jul.15 2013) and then1.2966 (low Jul.11 2013). On the upside, a breakout of 1.3110 (low Sep.2) would aim for 1.3160 (high Sep.3) and finally 1.3196 (high Aug.29).

EUR/JPY slumps below 137.00 on ECB surprise

EUR/JPY fell sharply and broke below the 137.00 mark after the European Central Bank decided to cut the main interest rates by 10 bps at today’s meeting.
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