After two days of European Central Bank (ECB) President Mario Draghi comments the EURUSD remains weighted down.

Monday’s comments surrounded deflation when ECB President Draghi said saw a risk of an upcoming deflationary cycle within the Euro Zone and that the ECB is ready to act. He went on to say to he sees indicators that suggest negative inflation could take hold and that the ECB is willing to use wide range of options including liquidity injections and interest rate cuts.

EURUSD near term support is at 1.3476 and resistance at 1.3733, look for EURUSD to test support this week.

Equity investors/traders can use the Currency Shares Euro Trust (FXE, quote) ETF to take positions in the euro without a FOREX account.  The ETF looks to track the price of the euro (EURUSD), minus ETF fee. The fund seeks to reflect the price of the euro with the shares representing a cost-effective investment relative to investing in the FOREX market.