Euro falls gradually against US dollar, Draghi speech in focus
Friday, January 22, 2016 7:18 AM UTC
- Pair falls steadily against US counterpart after ECB stands pat on policy statement.
- ECB kept deposit rate at -0.3% and the main refinancing rate at 0.05%.
- Intraday bias remains weak; expected trading range will be $1.0750 to $1.0900 level.
- To the downside, any fall below $1.0710 level will confirm the bearish bias. A break of $1.0700 level may drag the parity towards $1.0500 levels.
- Alternatively, reversal from this level will take the pair gain at $1.1000 mark.
- Market eye on Draghi's speech at World Economic Forum in Davos.
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