#EURUSD @ 0.97783 : Breach of 0.9750/0.9800 to easily expose 0.96 – TDS
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EUR/USD ended up posting its lowest daily close in two weeks on Wednesday. Economists at TD Securities expect the pair to challenge 0.96 on a dip under 0.9750/0.9800.
“The break above downtrend resistance (established from the February highs) in EUR/USD is a false dawn.”
“We spot key support into 0.9750/0.9800 where daily uptrend support from the October low comes in. A breach of that would easily expose 0.96.”
“The ECB will have a tougher time on fighting a higher Fed terminal rate. We seriously doubt the ECB can push their own terminal rate estimates that much higher.”
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