EUR/USD falls back below the 25 February high to a low of 1.2233
The euro is struggling to build on upside momentum today and part of that reason may owe to a bit of mixed commentary by the ECB as of late.
Panetta’s comments here isn’t getting much attention but it is worth taking note considering it signals a contrast against the stance taken up by the ECB over the past few weeks.
That may help to temper with gains in the euro if more policymakers at the central bank also start coming out with similar commentary before the next meeting on 10 June.
As for the technical side of things, a fall back below the 25 February high @ 1.2243 would be a tough blow for buyers in trying to keep the recent upside going.
So far, the dollar is keeping steadier today with little change across the board other than some losses against the kiwi and aussie – which owes to the former’s surge after the RBNZ adopted a more hawkish stance.