FXstreet.com (Barcelona) - It was about time. BUBA’s J.Weidmann has taken M.Draghi’s relay and is ‘verbally’ pushing the cross to the proximities of 1.3430 in the European evening. J.Weidmann commented that the euro would not be overvalued at current levels, and he emphasized than a lower exchange rate could derail in higher inflation.
At the moment, the cross is up 0.39% at 1.3420 facing the next resistance at 1.3426 (MA21d) ahead of 1.3430 (high Feb.8) and finally 1.3462 (low Feb.5).
On the downside, a dip beyond 1.3326 (hourly low Feb.11) would aim for 1.3265 (low Jan.23) en route to 1.3216 (Lower Bollinger).