Monexnews-the Euro has traded yesterday with visibility pressure movement down in numbers but following comments from 1.3360 Weidmann said that the Euro was still not overvalued, Euro back into position to recover the 1.3400 when currency is again trapped in the range.
The Euro is currently traded at 1.3405 figures, up 0.28% today. In the short term, the next resistance is at 1.3426 (MA-21 days), prior to 1.3430 (high Feb. 8) and finally to 1.3462 (low February 5). To the contrary, the range of support recorded in 1.3360 (low hourly 11 February) that will open up opportunities to 1.3326 (movements per hour at 11 February), and to 1.3265 (low Jan. 23).
Previously, Weidmann from BUBA to add comment from Draghi and verbally encouraging the Euro to 1.3430 area. J. Weidmann commented that the Euro is still not high terapresiasi for the time being in, and he emphasized that interest rates lower would lead to higher inflation.
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