#EURUSD @ 1.05994 : The risk of a 1.05 break is still non-trivial – TDS
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
The ECB hiked its key rates by 50 basis points today. EUR/USD is back below 1.0600 and could decline under 1.0500, economists at TD Securities report.
“ECB delivers the 50 as they leaked to the press the other day. No LTROs announced, but the statement mentioned a willingness to provide liquidity if needed. Moreover, there was no indication in the statement of future policy hikes.”
“For now, the key ranges are intact, but the risk of a 1.05 break in EUR/USD is still non-trivial, especially given USD/JPY’s breach of 132.00/40 (key support). That leaves EUR/JPY vulnerable to 138, especially with next the major support in USD/JPY coming around 130.”
[/s2If]
Join Our Telegram Group
