The EURUSD pair stays under pressure on Thursday in spite of the fact that the initial bearish attempt has been contained by the key 55-day SMA around 1.1385.

After the ECB President Draghi confirmed the worse-than-expected performance of the Eurozone economy on Tuesday, also with absence of strong macro data, the EURUSD pair is driven by technicals favoring the greenback.

The pair stays in the consolidation phase glimmer move underneath 1.1495 last Friday with little reason for the pair to move in the midst of absence of the macro drivers.  It would take a shockingly strong reading on the upside in the Eurozone inflation for the EURUSD to move upwards. Possibly, the pair may grow to test 1.1400 from below.

Rose Alice

About: Rose Alice

Rose Alice has a long experience as a currency analyst with a deep knowledge of the relationship between macroeconomics and currencies fluctuation.