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EUR/USD keeps 1.2660

FXStreet (Edinburgh) - The euro remains in the upper band of the intraday range, taking EUR/USD to the 1.2660/70 area.

EUR/USD unchanged post-Draghi

The pair keeps the positive tone following today’s neutral tone from Mario Draghi in his press conference and the unchanged stance in the ECB, leaving its monetary policy unchanged. It is worth recalling that the ECB will start its ABS and covered bonds purchase programme in the last quarter of the present year, and will last for two years. Camilla Sutton, Chief FX Strategist at Scotiabank, observed the technicals remain bearish, “with few signs that suggest that downward pressure is easing. Technically, support lies at the recent low of 1.2571 and resistance at 1.2700”.

EUR/USD key levels

The pair is now advancing 0.29% at 1.2660 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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