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Aug 31 - 08:55 PM

EUR/USD - Opens Higher As Case For Jumbo ECB Hike Builds

By John Noonan  —  Aug 31 - 06:45 PM
  • EUR/USD opens +0.37% after rising against every major currency

  • EUR underpinned by growing expectations they will hike 75 BPs next week nL1N3061S0

  • Resistance is at the pre-Powell speech high @ 1.0090 and 21-day MA @ 1.0109

  • Support @ the 10-day MA at 0.9997 and close below would ease upward pressure

  • EUR/USD upside may be limited ahead of US non-farm payrolls on Friday

  • Also helping to cap rallies is ongoing uncertainty over EU gas supply nL1N30704D

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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