Spike of EUR/USD

Quote from Peternam:

What caused the spike of the EUR/USD ?

1.2488 was key support. it was the top of the previous consolidation area before it broke higher on wednesday. Just a texcbook retracement back to previously broken resistance
 
on top of 2488 previous support, news the ECB considering setting yield band targets under new bond-buying program put some fire under it.
 
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