ECB's Nagel is speaking and says:
Current level of the Euro at $1.16 is not a cause for concern.
Food inflation remains stubborn.
ECB keeps an eye on strong price increase in services too.
With Dec projections we'll see more clearly if monetary policy stance remains appropriate.
The EURUSD is actually trading at 1.1514. Looking at the daily chart, the price remains below a swing area between 1.1541 and 1.15726. At the highs in November, the price stalled ahead of its 100 day moving average (blue line currently at 1.1648). The rising 200 day moving averages at 1.14498. The low price from the month of November came in at 1.14678 those levels are now support.
