EUR/USD dropped to a fresh 1 month low on the back of Draghi’s comments. However the currency pair has not extended its losses beyond 1.3548 (so far) because Mario Draghi did not suggest the central bank has grown more serious about moving into uncharted territory by dropping interest rates below zero. All policy tools are at their disposal and they stand ready to act if needed but right now they are comfortable with the current level of monetary policy. We have already seen almost 75% retracement of the down move and price is currently around 30 pips above the daily open. Tomorrow we could expect some volatile move due to NFP data hence it's going to be a volatile day. As for now daily demand is holding price and there is overhead resistance at 1.3655.

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