Goldman Sachs On EUR/USD, Post ECB

Goldman Sachs (NYSE:GS) is out with a quick note on the euro‘s ongoing squeeze post-today’s ECB meeting

“Draghi relatively restrained in his Q&A having had a few opportunities to sound overly dovish. He says they won’t cut the deposit rate but it’s also way too early to talk about tapering the purchase program,” GS notes.

“Not a whole lot new so a few spec/macro names cutting out of shorts with some stops triggered above 1.0620. The topside to watch for is the real resistance level at 1.0710-20,” GS adds.

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