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Dollar under pressure across the board - FXStreet

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik suggests that not only ECB head Mario Draghi's press conference is exerting pressure on the dollar on Thursday.

Key quotes

"US indexes are pressuring yesterday’s lows weighting also on the greenback."

"The ECB head bring nothing new to the table, again stating they are ready to launch full QE if needed."

"He expects inflation slowly to pick up over the upcoming 2 years, expressing not much concern on latest lowest readings but extending the time of a recovery."

"Anyway, the EUR/USD managed to advance up to 1.2691, retracing some for the level and maintaining a mild positive tone in the 1 hour chart as per price holding above both 20 and 100 SMAs and indicators aiming higher above their midlines."

"In the 4 hours chart price indicators remain below their midlines, with price above a flat 20 SMA, showing no actual upward strength."

"Only steady gains above 1.2700 will favor further intraday recoveries, eyeing a test of 1.2745 price zone."

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