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Dec 15 - 07:55 PM

EUR/USD - Opens Lower After Volatile Reaction To ECB Hike

By John Noonan  —  Dec 15 - 06:00 PM
  • EUR/USD opens -0.50% after USD eventually gained on severe risk aversion nL1N3352YW

  • EUR/USD initially rallied after ECB hawkish 50 bp hike - as EZ yields soared nL1N3350EKnL8N3354IR

  • It traded to 1.0737 - just below the 50% of 2022 decline at 1.0743

  • EUR/USD reversed lower when USD gained when stocks and commodities cratered

  • Support is at the 10-day MA at 1.0566 and 21-day MA at 1.0470

  • Despite fall - EUR/USD still trending higher as long as 10-day MA holds

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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