Draghi also expects the inflation to dip below the 2% in the mediun term, keeping expectations around that level as well. He informed that weakness in the euro area would persist in the first part of the current year, allowing a recovery later. In the same tone, he warned that a high exchange rate would pose risks to inflation.
At the moment the cross is down 0.24% at 1.3488 with next support at 1.3459 (low Feb.5) and then 1.3425 (MA21d).
On the flip side, resistance levels are located at 1.3598 (high Feb.5) and then 1.3659 (Upper Bollinger).