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The Euro reverses after Draghi's press conference and threats important long term support

EURUSD Tech analysis by Simon Kazinsky on 08:32 April 26, 2018 EST

EURUSD is at its monthly lows for April trading at 1.264 as Mario Draghi addresses the press at the ECB headquarters following the central bank decision to leave policy unchanged.

As can be seen EURUSD can find support in a multi year moving average as well as a trendline that has not been pierced since the upward trend started from 1.04 in early 2017.

Major resistance lies at 1.265 where price would meet a downward trendline that joins previous multi year highs.