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EUR/USD heading towards 2013 lows at 1.2745 on Draghi's comments

FXStreet (Moscow)- EUR/USD is on the backfoot as it dipped towards current Asian low at 1.2765 after having opened at 1.2780; the pair is vulnerable to a further move lower as there are no sights that bears are exhausted.

Draghi runs the show

Draghi’s comments from his interview to Lithuanian paper made a splash in Asia. The head of the European Central Bank confirmed that the Eurozone recovery was losing momentum, while EUR depreciation was in line with diverging monetary policy. EUR bears took it as a direct signal to dump the currency. It is worth noting that EUR/USD was badly beaten on Wednesday. as German IFO came out much worse than expected, while USD received an additional boost from positive housing market data. As a result, the pair broke below the key supports at 1.2840 b 1.2800. Now it is getting loser to another pivot - 2013 low at 1.2745. Once it is left behind. the downside may be extended towards 1.2716 and 1.2700.

What are today’s key EUR/USD levels?

Today's central pivot point can be found at 1.2806, with support below at 1.2748, 1.2716, and 1.2658, with resistance above at 1.2838, 1.2896 and 1.2928. Hourly Moving Averages are bearish, with the 200SMA bearish at 1.2891 and the daily 20EMA bearish at 1.2966. Hourly RSI is bearish at 27.

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