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Apr 11 - 06:55 AM

EUR/USD - Factors Likely To Influence EUR/USD On ECB Thursday

By Jeremy Boulton  —  Apr 11 - 04:50 AM
  • EUR/USD sinks below base 20-day Bollingers at 1.0762

  • Drop currently stretched with Thursday's range 1.0749-27 EBS

  • Targets for minor corrections are 1.0764 and 1.0787

  • Traders were betting on euro rising in advance of US CPI report

  • Expectations for int/rates have swung in favour of USD after CPI

  • Break under 2023 low at 1.0695 will spur tech related selling

  • 1.0650 - 76.4% 2023-24 rise - is key, break would target 1.0517

  • Rise above 1.0851 is needed to alleviate downside pressure

  • ECB PREVIEW-Teeing up a June cut, but caution likely beyond nL2N3GK0J0

Source:
Refinitiv IFR Research/Market Commentary

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