Breaking: EUR/USD falls as Draghi says balance of risks moving to the downside

Yohay Elam FXStreet

ECB President Mario Draghi said that downside risks are moving to the downside in his post rate decision press conference. The risks include geopolitics, protectionism, lower external growth, and more. Draghi said that the mix can be characterized as a higher rate of "general uncertainty."

EUR/USD falls from around 1.1380 to 1.1340 and the move continues. Support is seen at 1.1325 and 1.1305. Resistance is at 1.1395, the high point of the day. The currency pair lost the uptrend support line.

Follow all the developments in the Live ECB Coverage

The ECB announced the end of the APP, or the bond-buying scheme, as broadly expected. They will, however, continue reinvesting the proceeds from maturing bonds. Draghi maintained the pledge to hold interest rates at low levels through the summer of 2019. The pledge depends on conditions and may be extended. Draghi ends his tenure in November 2019 and his successor is unknown.

Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

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