Forex Zone (Forex Zone)
Czech markets  |  July 31, 2012 10:21:26

EU Ombudsman shined on ECB chief

EU Ombudsman Nikiforos Diamandouros received a complaint from the association, which is called the Corporate Europe Observatory (CEO) and monitors aimed at the lobby of the EU. The complaint concerns the ECB chief Draghi, who is from last week about the most popular media banker. The complaint initiated by the CEO is based on conflict of interest because Draghi is a member of an international forum of financial leaders in the public and private sectors, so-called G30. EU Ombudsman zaslal letter from the ECB and the time has until October to make the affair raised. Spokesperson ECB acknowledged receipt of notification from the Ombudsman, but denied that there was a conflict of interest.

On the other side of the Atlantic yesterday, U.S. President Obama warned of obstacles facing the U.S. economy over the next few months exposed, mainly due to European debt crisis. During his speech he also said: "I do not think Europeans will eventually leave the euro, to be split, but will have to take some decisive action."

As regards developments in the monitored pair EUR / USD, so that during yesterday's European session neared an important Support around 1.2220, at whichWe have pointed out, during the American session and did not show anything significant and consolidated around 1.2260.

Today it is on the agenda of the publication of a large number of macro-economic news, which could bring in significant market movements. We will closely monitor whether there is a re-test Support around 1.2220, and whether the market again "holds". Krátkodobě perceive the potential for high test today and yesterday's Asian session.

Currently the pair EUR / USD traded at 1.2265 price. Above this level we see significant resistance around 1.2293 and 1.2350 around. Under the current price we see major support around 1.2220 and 1.2150 around.

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