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Dollar under mild pressure - FXStreet

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik notes that EUR/USD broke out of the 30 pips range ahead of the US opening and is now trading in the 1.2670 region.

Key quotes

"Dollar is under mild pressure across the board, with the EUR/USD breaking its 30 pips range to the upside on news EU draft doc says 25 banks have shown a capital shortfall in the ECB stress tests."

"Slightly above expected, the pair lost 30 pips right after the news, but jumped quickly afterwards, as the news seem to have bring some relief over the economic situation in the EZ."

"Market players have been on hold for most of the day, as the results of the test are expected to be released on Sunday, and with FED meeting next Wednesday, cautious stance imposed."

"Technically, the lack of movement over the last few hours has left the short term picture for the most flat, as indicators present a quite neutral stance."

"In the 4 hours chart, a strong resistance area is clear around 1.2685, and it would take a price acceleration above to see the pair gaining further on the day. "

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