Growth and inflation forecasts lowered
The EURUSD has moved to the downside after growth and inflation outlooks were lowered a touch and ECB Draghi said that balance of risks were to the downside.
In the US, the import and export price data was low, but jobless claims indicate a strong employment picture with a sharp plunge toward record low levels. That should help the USD (hurt the EUR).
For the EURUSD, the price has moved below the 100 and 200 hour MA and an old trend line. It is also making new session lows for the day at 1.1355. The low from Tuesday is being tested at 1.1348 (moving below as I type).
The sellers are making a play on the somewhat dovish remarks and in the process moving away from the dreaded 100 and 200 hour MAs.
