ECB's Hanson's comment gives the EURUSD a push higher

Comments from ECB Hansson that there is no need to cut rates has provided a catalyst for the EURUSD to move higher. The EURGBP and EURJPY are also moving higher.

Technically,the pair has moved above the resistance target outlined earlier against the 100 and 200 bar MAs. A topside trend line on the intraday chart is also being tested. There is some stall against the trend line. Can traders push the price back below the trend lines broken moving averages at 1.0735-40 now and neutralize the push?

With 25 people on the ECB board, there is likely to be a push back from some members. Hansson is a known critic of the ECB QE program and more of a hawk. His comments run counter to those made by Mario Draghi after the Oct 22nd rate decision. On a quiet day, however, it has provided traders a reason to squeeze higher.