Forex: EUR/USD jumps on Draghi's comments

FXstreet.com (Barcelona) - Following ECB Draghi's comments on the single bank supervisor, that will help revive bank lending with higher confidence. He made clear that monetary policy and bank supervision will stay separate. The upside also followed the NY opening, and rose from 1.3150 to 1.3179 high.

Draghi also said it's not up to the ECB to push governments into applying for the OMT programme. Meanwhile in the US, Fed's Lacker expects the economy to take three years to drop its unemployment rate to 6.5%.

“Overall bullish tone remains intact, as clear break above 1.3200 would signal fresh bull phase after three-month congestion under 1.3170/38 peaks”, Drvenica added, pointing to immediate target at 1.3282 (01 May high and psychological 1.3300 barrier), while support is at 1.3140 (20-day EMA), followed by 1.3100 (55-day EMA) and 1.3070 (last Friday low / Fib 38.2% of 1.2876/1.3186 ascend).

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