EURUSD Technical Outlook
From a technical point of view, the outlook for EURUSD shifted from bearish to oscillating in the demand zone. Prior to this, the sharp price decline was not met with resistance, the emergence of lower highs and lower lows patterns, as well as the price trading below key moving averages, were unfavorable signals for the common currency.
On the other hand, ECB President Holtzmann said that the ECB is planning to raise interest rates and that they will discuss and possibly do so at their June meeting. Currency markets are betting on the ECB to raise rates three times later this year. If buyers return and trigger a bullish reversal, the upside target appears at 1.06361, near this week's peak. If there is further strength, the focus would shift to 1.07070 and then 1.08060. If EURUSD still accelerates its retracement in the coming weeks, support could be seen around the May low at 1.04700, but if sellers manage to break this floor, we cannot rule out a move to lower lows at 1.02800-1.03600.
On the other hand, ECB President Holtzmann said that the ECB is planning to raise interest rates and that they will discuss and possibly do so at their June meeting. Currency markets are betting on the ECB to raise rates three times later this year. If buyers return and trigger a bullish reversal, the upside target appears at 1.06361, near this week's peak. If there is further strength, the focus would shift to 1.07070 and then 1.08060. If EURUSD still accelerates its retracement in the coming weeks, support could be seen around the May low at 1.04700, but if sellers manage to break this floor, we cannot rule out a move to lower lows at 1.02800-1.03600.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.