EUR/USD reversing higher following Draghi sell-off
Mario Draghi practiced his favourite party trick yesterday, once more talking down the euro with reference to further easing. Interestingly, we did not see the $1.1223 level taken out to create a new low and have posted some long legged bullish reversal candles.
With the stochastic oscillator turning in a bullish manner, a rally seems the likeliest option from here, with a significant amount of ground to be made up. Essentially, EUR/USD strength is a Bremain play, which appears to be the trend of recent polls. The bullish view would be negated with an hourly close below $1.1223. Key resistance levels to watch are $1.1300, $1.1350 and $1.1382.