One big event giveth, the other taketh away. A weekly gain worth almost 400 pips was reduced to only 100 pips, mostly due to the excellent US jobs report.
Draghi’s reluctance to express worries about bond market volatility or commit to front loading QE. Together with some unconvincing US data, EUR/USD rallied hard. At one point it hit resistance at 1.1373, which was a peak back in November 2013.
Read the rest of the article EUR/USD erases the Draghi rally on the NFP – levels to watch