EUR/USD Moves Higher On Trichet’s Comments

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EUR/USD Moves Higher On Trichet’s Comments

By Greg Michalowski on November 5, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

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The EURUSD has been boosted by some of the more positive comments from ECB Trichet. He notes that the all liquidity will not be needed in the future and that he sees the economy improving .

The comments gave the EURUSD a boost and the high from yesterday has now been breached. The next target is the high from October 27th at the 1.4927 level. Look for support at the 1.4895 level and below that 1.4981. A move back below these levels will muddy the water a bit.

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