EUR/USD down to 1.3350 on ECB

The single currency is rapidly depreciating against the single currency on Thursday, dragging the EUR/USD to fresh multi-week lows around 1.3350

EUR/USD hurt by ECB

The ECB cut the lending benchmark 25 bp, taking it to a record low at 0.25%, catching investors off guard as most of them were expecting the central bank to stay put. The focus now is on the press conference by President M.Draghi, where more fireworks are expected.

EUR/USD levels to watch

The pair is now losing 1.13% at 1.3369 with the next support at 1.3300 (psychological level). On the upside, the initial hurdle lines up at 1.3548 (high Nov.6) followed by 1.3589 (high Nov.1) and finally 1.3591 (38,2% 1.3833-1.3442).


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