It's an outside reversal as the euro continues to fall
First drop in six days
Euro traders were geared up for something more-hawkish from Draghi but after teasing the market with a hint about better growth, he delivered largely unchanged forecasts and nothing to tilt the agenda towards hikes.
Technically, the fresh three week high followed by a reversal to new lows is a bearish development for the days ahead. A close below Tuesday's low of 1.2404 would be particularly negative.