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EUR/USD gained 1.2670 on Draghi

FXStreet (Edinburgh) - The shared currency is keeping the composure as Draghi’s Q&A session is playing out on Thursday, with the EUR/USD wobbling around 1.2660/70.

EUR/USD looking for catalysts

Spot is digesting pretty well Draghi’s words today, with further details on the ABS purchase programme by the ECB will be published at 1530 CET. The ECB will buy ABS from the last quarter of 2014 and will last 2 years. Draghi also stressed that the bank remains ready to act if the situation in the region deteriorates further. Regarding consumer prices, Draghi expects the CPI to climb closer to the bank’s target in the upcoming years

EUR/USD key levels

The pair is now advancing 0.36% at 1.2668 and a breakout of 1.2676 (high Oct.2) would aim for 1.2715 (high Sep.29) and then 1.2732 (10-d MA). On the downside, the immediate support aligns at 1.2571 (2014 low Sep.30) ahead of 1.2561 (low sep.6 2012) and finally 1.2502 (76.4% of 1.2042-1.3995).

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