Forex: EUR/USD jumps on Draghi's speech

The EUR/USD has reacted higher following the ECB's president Mario Draghi speech. Draghi is confidence in the eurozone economic recovery despite the fact they have downgrade growth forecast to a range of -0.9% to -0.1% with the CPI between 1.2% & 2.0% in 2013.

Mario Draghi said that a gradual recovery in the Eurozone will start in the second half of 2013. Another good news is that banks have already repaid 40% of net liquidity injected via LTROs.

The EUR/USD has jumped around 100 pips from 1.2985 to recover the 1.3000 level and reach the highest level since March 1st at 1.3095. The Pair seems to be ready to test the 1.3100 level. MACD, CCI and Momentum are bullish in the 15-minute and 1-hour charts.

Currently, the EUR/USD is pricing at1.3080, 0.87% above opening price.