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EUR/USD falls amid ECB bond buying talks

FXStreet (Córdoba) - EUR/USD saw a quick drop and hit fresh daily lows amid reports the European Central Bank may be considering the purchase of corporate bonds

Reuters reported the ECB has already discussed on corporate bond purchases and may start as soon as December. Such policy will help to bypass the banks in the transmission of policy.

EUR/USD retreated from a peak of 1.2839 reached during the European session and fell more than 50 pips in a matter of minutes, hitting a low of 1.2760 before finding support. At time of writing, the pair is trading at 1.2765, now down 0.26% on the day.

EUR/USD levels to watch

As for technical levels, on the downside immediate supports are seen at 1.2750 (Oct 20 low), 1.2709 (20-day SMA) and 1.2700 (psychological level). On the upside, resistances could be found at 1.2839 (intraday high), 1.2882 (Oct 15 high) and 1.2900 (psychological level).

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