EURUSD remains below the 100 day MA

So far, ECBs Draghi has offered a little something for everyone. He is trying to keep the confidence up by suggesting the growth is solid and broad based, but admitted that there is moderation that requires monitoring.

The EURUSD is higher but has run into the 100 day MA at the 1.22117 level (the high reached 1.2210 so far).

He is winding down with more technical comments, but you never know:

  • Latvia can not vote until governors in place
  • independence of governors must be preserved
  • ECB will react to any unwarranted tightening of financial conditions
  • ECB is ready to adapt ample accommodation if needed
  • Progress on banking, capital markets union overdue

More from Constancio:

  • We are on the path to normalization regarding our objective of price stability
  • The work is almost done on handling the crisis
  • Monetary policy over the next couple years might not be as exciting
  • The conditions of self sustainability of growth allow us to contemplate future years of growth if there are no shocks

Draghi concluded the conference with kind words toward Vitor Constancio who will be resigning from the ECB board in June.