- EUR/USD testing support level
- ECB President Draghi Speaks
- Trump temporarily reopens government
Price Movement
Since last Friday, EUR/USD has been on a bullish rally, moving up for around 90pips.
Trend
Overall, EUR/USD has been moving on a downtrend.
Macro Background
No major economic data release.
Important Issue
ECB President Mario Draghi will be testifying about the economy and monetary policy before the European Parliament Economic and Monetary Affairs Committee. As such, market volatility will be expected.
U.S. president Donald Trump reopens government temporarily for 3 weeks (through 15th February). During this time, lawmakers will be working to reach a wider deal on immigration. President Trump also threatened to let funding lapse or declare a national emergency to bypass Congress If the immigration deal is not to the president’s liking.
Technical
EUR/USD is currently testing the resistance of 1.14138.
Price Levels
Current Price: 1.14099
Next Resistance: 1.14138
Next Support: 1.13256