EURUSD drifting lower today. European economy emerged from the danger zone according to ECB policymaker Coeure.

EURUSD dropped yesterday and closed at 1.3785. The Industrial Production in the United States rose 0.6 percent month over month in September. On the other side of the ocean the European Central Bank policymaker Benoit Coeure stated the economy in the Eurozone has emerged from the danger zone. He also added that the currency union was at a crossroad and must restructure the financial, avoid protectionism and foster growth with new business model in order to prosper the economy. Support for the EURUSD is seen at 1.3740 and resistance is seen at 1.3830. The HotForex Traders Board shows that 69 percent of the traders are short on the EURUSD.

EURUSD drifting lower today. European economy emerged from the danger zone according to ECB policymaker Coeure.